Gold Rebounds After Sharp Jobs Data Selloff Ahead of Inflation Reports

Gold prices rebounded after a sharp decline triggered by stronger-than-expected U.S. employment figures. The Labor Department reported 162,000 new jobs created in August versus forecasts of 55,000, sparking an initial drop of more than $100 an ounce. Spot gold stabilized at $4,423.10, posting a weekly loss of less than 1%.