Gold prices after the latest U.S. data showed the labor market bounced back in November. Futures are flat at $2,649 a troy ounce, after rising 0.5% earlier in the session.
Fed officials are still expected to cut interest rates by 25 basis points at their next meeting, but the job data could make it easier for them to leave rates on hold if inflation data comes in warmer than anticipated next week.
Friday's nonfarm payrolls report "matches the message from some of the alternative indicators suggesting that conditions in the labour market are stabilizing at a healthy level," Capital Economics' economist Stephen Brown says. "The CPI and PPI price data next week will be the main determinant of the Fed's interest rate decision this month."
Source: Marketwatch
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