Gold turns higher with Fed rate cut path uncertain after jobs data | Metals Mine

  • Gold turns higher with Fed rate cut path uncertain after jobs data

    From msn.com

    Gold and silver futures rebounded Wednesday despite a stronger than expected ADP private payrolls report that analysts said showed some stabilization in the job market consistent with a modest softening in labor demand. Private sector payrolls in the U.S. increased by 42,000 after two straight months of declines, according to ADP, whose report is one of the few monthly snapshots of the labor market as the longest-ever U.S. government shutdown delays the releases of official economic data. Some economists said the weaker general trend in hiring makes another interest rate cut by the Federal Reserve more likely, ... (full story)

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