Gold rebounded as investors weighed the outlook for the Federal Reserve’s interest rate path following data that showed some stabilization in the job market.
Private-sector payrolls in the US increased by 42,000 after two straight months of declines, according to ADP Research. The report is one of the few monthly snapshots of the labor market as the longest government shutdown in US history delays the releases of official economic data. While helping to temper concerns of a faster deterioration in the job market, the modest payrolls increase last month is consistent with a general softening in labor demand.