Precious Metals Give Up Jobs-Report Gains as Oil and Yields Remain High

Gold and silver prices declined on Friday after a weaker-than-expected U.S. jobs report cut October Fed rate-hike odds. Spot gold traded near $4,142 an ounce, down 0.83%, while silver stood around $60.23, falling 1.04%. Elevated Treasury yields, a firm dollar and oil-market risks kept weighing on the metals.

Nonfarm payrolls rose only 29,000 versus forecasts near 90,000, with unemployment steady at 4.2% and prior months revised down 60,000. October hike probabilities dropped to 22%. U.S. and European equities advanced, with the S&P 500 gaining 0.7%.

Brent crude held near $101.23 a barrel and WTI near $90.70, while the 10-year Treasury yield stayed around 5.25%. Gold faces resistance near $4,149-$4,171 and support levels below current prices.