Overriding concern over tariffs though key rate determinants appear to be in control
Nonfarm payrolls increased 263,000 in November after an upwardly revised 284,000 gain in October, a Labor Department report showed.
U.S. employment increased less than expected in December but a rebound in wages pointed to sustained labor market momentum that sets up the economy for stronger growth and further interest rate increases from the Federal Reserve this year.
Gold prices edge up in Asia as market awaits Fed, nonfarm payrolls
US employment growth slowed more than expected in August after two straight months of robust gains and wage gains moderated, which could effectively rule out an interest rate increase from the Federal Reserve this month.
The US central bank has signaled its intention to raise rates soon if job gains continued and economic data remained consistent with a pickup in growth in the second quarter
Nonfarm payrolls increased by 160,000 jobs last month as construction employment barely rose and the retail sector shed jobs, the Labor Department said on Friday.
Concerns over growth, the failure of extraordinary central bank stimulus and banking profitability in an era of negative interest rates, allied to a still tepid recovery in oil prices, has kept a lid on any optimism over the past month.
Nonfarm payrolls increased by 215,000 in March, providing a positive sign for an economy that otherwise has been slowing lately.
The unemployment rate held at a 7-1/2-year low of 5 percent, even as people returned to the labor force in a sign of confidence in the jobs market. The jobless rate is in a range many Fed officials see as consistent with full employment and has dropped seven-tenths of a percentage point this year.
The unemployment rate now stands at its lowest level since April 2008 and is in a range many Fed officials see as consistent with full employment.
The solid employment and wage gains added to robust automobile sales in painting an upbeat picture of the economy at the start of the fourth quarter.
Spot gold eased 0.2 percent to USD 1,112.06 an ounce by 0653 GMT, after earlier dropping to USD 1,111.45, its lowest since Sept. 16.
Nonfarm payrolls are forecast to have increased by 150,000 jobs in February, according to a Reuters survey of economists, up from the weather-depressed gains of 113,000 in January and 75,000 in December.
Gold has rallied, with some analysts beginning to suggest that gains could continue or at least hold for a little longer.
A top Federal Reserve official, who has been one of the most ardent supporters of the US central bank's bond-buying stimulus program, said he was open to curtailing the purchases this month, although he would prefer to wait.
The US markets ended higher on Friday. US employers added 203,000 jobs to nonfarm payrolls in November, exceeding the forecast. The US unemployment rate fell to a five-year low of 7 percent in November from 7.3 percent in October.
Wednesday's stronger-than-expected ADP report showed that private sector hiring rose in November at the highest rate in a year.
Hedge funds and money managers broadly cut bullish bets in futures and options of US gold, silver and copper in the week to November 5, a report by the Commodity Futures Trading Commission showed on Friday.
Analysts told CNBC that the inverse relationship between gold and the dollar is strengthening, which is good news for battered gold prices given expectations that the Federal Reserve will maintain its monetary stimulus for longer than previously expected.
Founder of the Gartman Letter, Dennis Gartman says that the monthly nonfarm payroll data should touch 250,000 before the US Federal Reserve starts to taper its monthly bond buying programme.
Gold rose nearly 1 percent to a two-month high on Friday, and bullion posted its biggest weekly gain in five weeks as disappointing US data dimmed hopes for a swift economic recovery.
Forex market analysts believe that the currency may weaken more on the back of strong dollar demand. Employment data from the US has also been strong, which has led to this move, says Ashutosh Raina, head of FX trading at HDFC Bank.
Gold inched up higher on the hope of weak US nonfarm payroll data that eased fears of an imminent tapering of the US Federal Reserve's monthly bond buying programme.
Emerging markets (EMs) will continue to underperform for the next 3-5 years, says Mark Matthews of Bank Julius Baer & Co. He told CNBC-TV18 that the data trend in the US being positive will hit performances of EMs.