Gold slipped as strong U.S. jobs data lowered chances of a December Fed rate cut.

Spot gold slipped 0.6% to $4,052.58, down 0.7% for the week, while U.S. futures eased to $4,050.30.

A firm U.S. dollar — heading for its best week in over a month — added pressure, making gold more expensive for overseas buyers. The Labor Department reported 119,000 new jobs in September, more than double expectations, pushing traders to scale back bets on a near-term rate cut.

Fed’s Goolsbee signaled caution on cutting rates too early as inflation progress appears to be stalling. With year-end approaching, profit-taking has also contributed to gold’s consolidation.

Asian physical demand stayed weak amid rate volatility.
Silver fell 1.8%, platinum 0.5%, and palladium 1.4%.