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Gold slides 1% as strong US jobs data clouds rate cut bets
![IndiaTimes]()
Friday, 8 December 2023
Gold prices fell on Friday as the dollar and Treasury yields strengthened after traders lowered bets for US interest rate cuts to materialize by March next year following a stronger-than-expected jobs data. Spot gold fell 1% to $2,008.79 per ounce by 9:55 a.m. ET (1455 GMT), and was down nearly 1% for the week so far. US gold futures also lost 1% at $2,025.10. The dollar index firmed 0.2%, making bullion more expensive for overseas buyers. Also, 10-year Treasury yields ticked higher.
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Friday, 8 December 2023
