Gold futures finished above $4,100 an ounce Monday as a weaker U.S. dollar and falling oil prices supported bullion, while strong U.S. hiring kept further interest-rate increases in focus.
Payroll growth exceeded expectations, bringing renewed attention to further rate increases. Market pricing indicated an 82% probability of a December hike. Gold pays no interest, so higher rates can weaken its appeal.
Oil's retreat eased inflation worries, and dollar weakness helped sustain gold's advance since the U.S. election.
After Democrats were projected to take control of the House, gold and silver both rose. Investors expected a Democratic majority to press for an end to the Middle East war, a prospect that supported gold.
A Nov. 9 EconoTimes spot-gold snapshot put the metal at $4,101.26 an ounce, a separate market reference from Monday's futures settlement.
