Finance

The super dollar reached its highest levels, awaiting key market data

The super dollar reached its highest levels, awaiting key market data

The dollar index hit its highest levels in more than a week, making gold more expensive for buyers holding other currencies.

Data on Friday showed that US employers hired more workers than expected in September, while the unemployment rate fell to 3.5%, providing ammunition for the Federal Reserve to deliver another sharp rate hike at its next policy meeting. Fed fund futures forecasts a 90% chance of up 75 basis points.

Attention now turns to US inflation data due this week. Consumer price inflation is expected to ease slightly to 8.1% annually, but the core measure is expected to accelerate to 6.5% from 6.3%.

Higher interest rates increase the opportunity cost of holding non-interest bearing bullion.

Among other precious metals, silver fell 2.3% to $ 19.65 an ounce after hitting a one-week low, platinum fell 1.5% to $ 898.58, while palladium rose 0.1% to $2,183.99.

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