US Jobs Data Weighs on Gold Prices Amid Inflation Concerns

Gold prices have come under pressure due to strong US jobs data, which has raised concerns about inflation. The US Labor Department reported that employers added a higher-than-expected 315,000 jobs in August, pushing gold down.

The jobs data exceeded market expectations and has led to speculation that the Federal Reserve may raise interest rates sooner rather than later. This could lead to increased borrowing costs, which in turn would weigh on gold prices.