Gold Prices Slip to $4,447 Amid Strong U.S. Jobs Report

Gold futures slipped to $4,447 after an upbeat U.S. nonfarm payrolls (NFP) report showed stronger-than-expected job growth.

The yellow metal had surged nearly 10% in August to briefly challenge peaks near $4,700 before facing headwinds from a resurgent U.S. dollar and rising bond yields.

Market participants are aggressively repricing Federal Reserve policy expectations, with strong employment data boosting bets on a potential rate increase or a prolonged higher-for-longer stance if inflation stays sticky.

Central banks across Asia and the Middle East remain persistent structural buyers of gold, steadily diversifying their foreign reserves away from the U.S. dollar and dampening major market corrections.