U.S. Department Labor and Interest Rates

analysts: A report released by the U.S. Department of Labor showed an unexpectedly strong jobs report, according to Xinhua China. Non-farm payrolls rose by a better-than-expected 280,000, and analysts said that revisions to previous months added 32,000 to April and March. The most active gold contract for August delivery fell 7.1 U.S. dollars, or 0.60 percent, to settle at 1,168.10 dollars per ounce. Analysts also noted that there is an uptick in wage pressures as the report shows yearly earnings increasing 2.3 percent. Analysts originally believed that interest rates could rise as early as June, but due to worse-than-expected jobs data in March, they now believe that interest rates will rise in the fall. This report is likely to become a factor in the Federal Open Market Committee meeting later this month, as the U.S. central bank decides when to raise interest rates. (news.financializer.com). As reported in the news.