U.S. employment rose by 162,000 in August, well above expectations, and the
prior two months’ payrolls were revised up. The surprise gain pushed Treasury
yields higher and the dollar stronger, reversing a two-day move in which softer
yields and a weaker dollar had supported gold. New York December gold futures
fell 2.4% to $4,429.50 per troy ounce; silver declined 2.7% to $65.875 per troy
ounce.
