Gold rises amid US job decline
U.S. labor market data showed a sharp slowdown, with the economy adding only 29,000 non-farm jobs in September, compared to expectations of 84,000. The unemployment rate also rose to 4.2%, slightly higher than the forecast of 4.1%. This deceleration in employment supported a rise in gold prices, which exceeded $4,200 an ounce, amid increased expectations that the Federal Reserve will not significantly raise interest rates in the near future, despite ongoing inflationary pressures.
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