Gold Dips as US Jobs Data Cements Bets for Smaller Rate Cut

Gold prices eased on Monday as bets firmed for a smaller US rate cut in November after strong jobs data. Spot gold slipped 0.2% to $2,647.49 per ounce. US gold futures were unchanged at $2,667.10. The stronger-than-expected September jobs report, released on Friday, poured cold water on expectations of a large Fed rate cut next month, boosting the dollar. This week, market participants will focus on minutes of the Fed's last policy meeting, and the US Consumer Price Index (CPI) and Producer Price Index (PPI) data. A slew of US central bank officials are also speaking this week. Spot silver fell 0.2% to $32.11, platinum lost 0.4% to $983.67 and palladium rose 0.6% to $1,017.63. Source: Qatar News Agency