Gold Slips as Strong Dollar, Yields Surge Post-Jobs Data - Investing News Network

AI desk brief

Gold rebounded to US$4,119/oz early on November 9 after trading around US$4,063 on Friday, when the report attributed selling pressure to a stronger dollar and rising Treasury yields. October payrolls rose 165,000 and unemployment fell to 4.1% from 4.2%; sustained dollar strength could weigh on gold, although nominal yields alone do not establish real-yield pressure. The Gold Advisor’s Jeff Valks identified US$4,000 as important support. Colleague Jeff Clark remained bullish over two to three years, citing a 93% correlation with the 1976–1980 rally, but cautioned that US$10,000 gold was not guaranteed.