Ammon News - Gold rose on Tuesday after a U.S. jobs report showed the unemployment rate rose last month from September, reinforcing bets of rate cuts by the U.S. Federal Reserve and sending the dollar index lower.

Spot gold gained 0.2% to $4,310.21 per ounce, as of 01:48 p.m. ET (18:48 GMT). U.S. gold futures settled 0.1% lower at $4,332.3.

The U.S. dollar fell to a two-month low, making greenback-priced bullion more affordable for overseas buyers. Benchmark 10-year U.S. Treasury yields also edged lower.

Last week, the Federal Open Market Committee had announced a quarter-point rate cut, and Chair Jerome Powell's accompanying comments were perceived as less hawkish than expected.

U.S. rate futures still expect two cuts of 25 basis points each in 2026, pricing in 59 bps of easing next year. Non-yielding gold tends to thrive in a low-interest rate environment.

Spot silver fell 0.3% to $63.75 an ounce, retreating from a record high of $64.65 on Friday. Platinum rose 4% to $1,854.95, its highest level since September 2011, and palladium gained 2.5% to $1,606.41, hitting a two-month high.

Reuters