Gold prices are trading steady to slightly lower in early U.S. dealing Friday.
December Comex gold declined at $1,300.00 an ounce. December Comex silver declined $0.136 at $18.25 an ounce.
The Labor Department showed October employment report, 161,000 were created in October, when there were expectations to see job gains to 170,000. September’s employment was revised up to 191,000 from the initial reporting of 156,000. August employment was revised to 176,000 from the previous level of 167,000.
Gold prices were flat on the day ahead of the report; December gold future last traded down 0.27 percent on the day at $1,299.8.
“With these revisions, employment gains in August and September combined were 44,000 more than previously reported,” the report said. “Over the past 3 months, job gains have averaged 176,000 per month.”
The employment rate came in 4.9 percent, compared to September’s level at 5.0 percent.
The department said that wages are up 2.8 percent so far this year, wage inflation is on the rise.
The report said that average hourly wages increased by 10 cents last month to $25.92, up 0.4 percent from September’s eight-cent rise.
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