Washington: Gold prices stayed soft on Friday after strong employment numbers from the United States lowered expectations of an early interest rate cut by the Federal Reserve. The latest figures showed that the US economy added far more jobs than expected in September, pushing the dollar higher and weighing on global precious metal prices.

Spot gold slipped to around four thousand seventy three dollars an ounce, while US gold futures made only a slight gain. Analysts said the stronger dollar made gold more expensive for buyers using other currencies, reducing demand in the short term.

The jobs report showed an increase of one hundred nineteen thousand nonfarm payrolls, more than double earlier estimates. This led traders to scale back expectations of a rate cut next month, with the probability dropping to about forty percent.

Minutes from the Federal Reserve’s recent meeting also signaled caution among policymakers. Chicago Federal Reserve President Austan Goolsbee said he was not comfortable supporting faster cuts while inflation risks remain.

Market experts noted that gold is likely to stay volatile in the coming days as investors look for more signals from US economic data. While the strong jobs figures have limited gold’s gains for now, analysts say long term interest in the metal remains firm due to global uncertainties and safe haven demand.

In India, currency markets also reacted to global developments, with the rupee seeing minor movement as investors assessed the impact of the stronger dollar and the slower outlook for US rate cuts.