Gold Holds Steady Despite Robust US Labor Market

Gold maintains its ground even as solid US employment figures emerge. Initial jobless claims hit 197,000 for the week ending Sept. 26, with the four-week average at 200,000 and continuing claims dropping to 1.701 million. This resilience gives the Fed scope for further rate hikes, keeping 10-year yields near 5.30%. Spot gold reached $4,182.50 per ounce, up 0.65%. Artem Bakushev noted the labor market eases recession fears while gold avoids any sell-off. Kyle Rodda added the data backs a hawkish Fed bias and possible December hike.