Gold Little Changed as Traders Eye Outlook for Fed Rates

Gold steadied as traders weighed comments from Federal Reserve officials as well as data showing a dramatic weakening in the US jobs market, raising the prospect of lower interest rates.

Bullion was little changed just below $4,000 an ounce, paring gains made earlier in the session. Markets were buffeted early Thursday by a report that showed US companies had announced the most job cuts for any October in more than two decades, according to data from outplacement firm Challenger, Gray & Christmas Inc. The dollar weakened.