Gold steadied as traders weighed comments from Federal Reserve officials as well as data showing a dramatic weakening in the US jobs market, raising the prospect of lower interest rates.

Bullion was little changed just below $4,000 an ounce, paring gains made earlier in the session. Markets were buffeted early Thursday by a report that showed US companies had announced the most job cuts for any October in more than two decades, according to data from outplacement firm Challenger, Grey & Christmas Inc. The dollar weakened.

Weaker jobs numbers bolster the case for the Fed to cut borrowing costs, which would be a boon for non-interest-bearing gold. However, Chicago Fed President Austan Goolsbee said on Thursday a lack of official inflation data during the US government shutdown makes him mo

See Full Page