Scope Warns US Debt Could Hit 160% of GDP 
Middle East Oil Exports Top Pre-War Levels Despite Hormuz Attacks 
Oil Prices Hold Steady as Middle East Supply Risks Persist 
Euro Hits 17-Month Low as France Debt Fears Boost Dollar 
US Stock Futures Rise as Weak Jobs Data Eases Fed Hike Bets 
Hong Kong Stocks Slip as Property, Financial Shares Weigh 
Fed’s Hammack Says More Data Needed Before Next Rate Move 
Yen Strengthens on Tokyo Inflation as Dollar Awaits US Jobs Data 
Fed’s Logan Signals 50 Basis Points More in Rate Hikes 
Asian Currencies Slide as Dollar Rises, Euro Hits 17-Month Low 
Asian Stocks Fall as US Jobs Data and Oil Risks Rattle Markets 
High Rates Weigh on U.S. Home Improvement Demand 
G20 Divided Over US Push to Curb Industrial Overcapacity 
Tokyo Inflation Jumps to 2.7%, Boosting BOJ Rate Hike Expectations 
RBI Rate Hike Bets Surge as Inflation Rises 
IMF Says Global Bond Markets Remain Orderly Despite Yield Surge 
Add as a preferred source on Google
Gold prices moved higher on Monday, recovering slightly after their steepest weekly decline since June, as weak U.S. employment data reduced expectations for another Federal Reserve interest rate hike. Elevated Treasury yields and persistent energy inflation risks, however, limited bullion’s gains.
Spot gold (XAU/USD) rose 0.3% to $4,153.66 an ounce as of 20:40 ET (00:40 GMT), following a 3.4% decline last week. Silver (XAG/USD) gained 1.3% to $61.15 after tumbling more than 6% last week, its biggest weekly drop since mid-July. Platinum and palladium also advanced, while the U.S. dollar remained broadly steady after three consecutive weekly gains.
U.S. nonfarm payrolls increased by only 29,000 in September, missing market expectations and signaling weaker momentum in the labor market. The disappointing jobs report reduced pressure on the Fed to raise borrowing costs quickly despite persistent inflation concerns.
Markets now assign roughly a 20% probability to an October Fed rate hike, sharply lower than about 70% a week earlier. Lower expectations for higher interest rates typically support gold because the precious metal offers no yield.
Gold remains under pressure following a decline of more than 6% in September, its worst monthly performance since June. Investors have been concerned that energy-driven inflation could force U.S. interest rates to remain elevated for longer.
Attention will now turn to minutes from the Fed’s September meeting, when policymakers raised interest rates for the first time in three years. The minutes, due this week, could offer fresh clues about the central bank’s policy outlook.
Inflation risks remain elevated as oil prices stay high amid escalating Middle East tensions, including a Saudi-backed military offensive against Iran-aligned Houthis in Yemen.
Meanwhile, U.S. Treasury yields remain near multi-decade highs, increasing the opportunity cost of holding bullion. ANZ analysts said weaker employment data and reduced Fed hike expectations are supporting gold, although high bond yields and renewed energy inflation risks continue to constrain further gains.
