Gold Steady After US Jobs Data Reaffirms Fed Rate Cut Bets
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Gold held steady after a key US jobs report reaffirmed expectations that the Federal Reserve will cut interest rates this month.
Nonfarm payrolls increased 227,000 last month following an upwardly revised 36,000 gain in October, according to Bureau of Labor Statistics figures released Friday. Since the figures have been choppy lately, economists are keeping an eye on payrolls growth over the past three months, which averaged 173,000. The unemployment rate edged higher and wages rose by more than forecast.