The U.S. added 227,000 jobs in November, beating expectations and prompting upward revisions for the previous two months. Despite this, the overall labor market remains stable and easing, which supports the view that the Federal Reserve may cut interest rates again in December. After the report was released, the U.S. dollar and Treasury yields dropped. Analysts expect an 87% chance of a 25 basis point rate cut in December, which has been a key factor driving gold's strong performance this year. The data is seen as "Goldilocks" — not too strong or weak — allowing the Fed to continue easing.

U.S. Non-Farm Payrolls Beat Expectations, Boosting Odds of Fed Rate Cut and Supporting Gold

Dec 09 2024