Gold Steadies as Dollar Climbs on Rising Bets of Fed Rate Hold

Gold steadied after earlier gains as the dollar moved higher, with traders boosting wagers that the Federal Reserve will keep interest rates steady next month.

A gauge of the dollar’s strength jumped the most after swap traders now priced out a rate cut in December. The bet came after the government canceled the publication of the October employment report, leaving Fed officials without a key piece of economic data before their final meeting of the year. Bullion typically underperforms in a higher rate environment.