The gold price remained fairly steady this week after last week’s brief uptick, largely trading between US$4,000 and US$4,100 per ounce. As is often the case, its sister metal silver was more volatile, jumping briefly above the US$52 per ounce level midway through the period. The precious metals faced some pressure on Thursday (November 20) after the release of September US jobs data. The Department of Labor report, which was delayed due to the government shutdown, came in stronger than expected, with nonfarm payrolls increasing by 119,000 for the month — more than double the gain of 50,000 estimated by analysts. The jobs numbers have dampened expectations that the US Federal Reserve will cut interest rates at its December meeting, as have minutes from the central bank’s latest meeting. ‘This (data) essentially confirms what the Fed discussed in October — a slowing yet stable jobs market. A December rate cut…
