Global marketsUpdated November 6

Gold falls 1% after US jobs data, gains 4.5% for the week

The Saudi Press Agency reported that US October nonfarm payrolls exceeded expectations and unemployment fell to 4.1%. Spot gold fell 1% to $4,047.10 an ounce, while US gold futures dropped 1.4% to $4,057.20; gold still gained 4.5% for the week. The agency linked the decline to stronger employment data, alongside a higher dollar and Treasury yields, which reinforced expectations that interest rates would remain high for longer.

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Coverage started November 6