Spot gold fell 0.9% to $4,140.06 and lost about 3.4% over the week, even as weak payroll data cut the market-implied chance of an October U.S. rate increase to 22%.
Wall Street advanced after payroll growth missed forecasts and October rate-hike bets faded, yet long-term U.S. yields reversed an initial decline and global bonds stayed under pressure.
The Nasdaq gained 2.26% to a record close as chip stocks rallied, Brent settled at $100.34 and the U.S. 10-year yield slipped below 5%.
The Dow lost 373 points as oil and yields rose, but memory-chip stocks and Elon Musk’s two listed companies moved against the broader market.
The Nasdaq gained 1.6% as two AI-linked companies surged, but most S&P 500 members fell and Treasury yields edged higher.
A surprise decline in retail spending reduced expectations of a September rate increase but sharpened the contradiction between supportive borrowing costs and the risk that high inflation is meeting slower growth.
