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Gold dipped on Thursday after stronger-than-expected private U.S. payrolls data dented expectations of another interest rate cut by the U.S. Federal Reserve in December. FUNDAMENTALS * Spot gold GOLD lost 0.3% to $3,971.08 per ounce by 0144 GMT. * U.S. gold futures GOLD for December delivery lost 0.3% to $3,979.70 per ounce. * The dollar DXY held just below a four-month high reached in the previous session, with a recovery in appetite for riskier assets pulling it off recent peaks. * Menawhile, benchmark U.S. 10-year yields US10Y held just below their highest in nearly a month. * The U.S. Federal Reserve cut interest rates last week and Chair Jerome Powell suggested it might be the last reduction in borrowing costs for the year. * U.S. private employment increased by 42,000 jobs last month, above Reuters' estimate of a 28,000 rise, the ADP employment report showed on Wednesday. A strong jobs market typically makes interest rate cuts less likely and can keep rates higher for longer. * Market participants now see a 62% chance of a Fed rate cut in December, down from over 90% last week. * A congressional impasse has resulted in what is now the longest-ever U.S. government shutdown, which has forced investors and the data-dependent Fed to rely on private sector indicators. * Non-yielding gold tends to do well in a low-interest-rate environment and during times of economic uncertainty. * Bullion hit a record high of $4,381.21 on October 20, but it has fallen close to 10% since. * Major stock indexes gained on Wednesday as corporate earnings and U.S. private payrolls data were stronger than expected. * Elsewhere, U.S. Supreme Court justices raised doubts on Wednesday over the legality of President Donald Trump's sweeping tariffs in a case with implications for the global economy. * Elsewhere, spot silver XAGUSD1! was down 0.6% at $47.77 per ounce, platinum PL1! slid 0.8% to $1,549.21 and palladium XPDUSD1! lost 0.7% at $1,408.74.
