Shafaq News..Gold prices drop ahead of US jobs report - شفق نيوز

AI desk brief

Spot gold fell 1.1% to $4,044.09/oz at 0501 GMT ahead of US payrolls due at 1330 GMT, while remaining on track for its best week since late August. Oil's rebound of more than 1% could sustain inflation concerns and higher-for-longer policy expectations; CME FedWatch showed a 68% probability of a December rate increase, down from near certainty last month. KCM Trade's Tim Waterer attributed some gold selling to cash-raising and margin calls. Goldman Sachs cut its end-2026 gold forecast to $4,150 from $4,650, citing Fed hawkishness. Silver, platinum and palladium also fell but remained headed for weekly gains.