After the US adds 162,000 jobs in August, gold futures drop 2.4%

The U.S. employment report shows that 162,000 jobs were added in August, far exceeding expectations, and employment data for the previous two months were also revised upward, leading to a drop in gold futures. In the previous two trading sessions, U.S. Treasury yields declined and the U.S. dollar weakened as investors closely watched employment data, which had boosted gold prices. After the release of the employment report, Treasury yields rose and the dollar strengthened. Gold futures for December delivery on the New York market fell 2.4% to $4,429.50 per troy ounce. Silver fell 2.7% to $65.875 per troy ounce.