Gold prices fall ahead of key U.S. jobs data

Spot gold fell 0.6% in morning trading to approximately $4,063 per ounce, while U.S. gold futures for December delivery dropped 1% to around $4,073. The precious metal had risen in previous sessions, supported by a weaker dollar and declining Treasury yields following the U.S. elections. Despite the latest decline, gold maintained a weekly gain of approximately 4%.

Market expectations that the Federal Reserve could raise interest rates in December continue to weigh on gold prices. Stronger-than-expected U.S. employment and wage data could push the dollar and Treasury yields higher, while weaker figures could ease expectations of a rate hike and provide support for gold. Investors will also closely monitor statements from Fed officials following the employment report.