Gold price today, Friday, November 21: Gold holds below $4,100 after jobs report

Core Insights - Gold futures opened at $4,074.90 per ounce, reflecting a 0.4% increase from the previous day's close of $4,060, although prices declined in early trading [1] - The price of gold is significantly influenced by interest rate expectations, with a slight increase in the probability of a quarter-point rate reduction in December to 43.6% from 39.1% [1][2] - The latest employment report showed mixed results, with 119,000 jobs added in September but an increase in the unemployment rate to 4.4%, the highest since October 2021 [2] Gold Price Trends - The one-year gain for gold as of November 14 was 63.4%, indicating strong performance over the past year [3] - Gold prices have shown a decline of 2.9% over the past week and 6% over the past month, while the year-over-year increase stands at 53.2% [6] Investment Strategies - Experts recommend varying gold allocations based on investment goals, with suggestions ranging from 0% to 20% [4][5] - Robert R. Johnson advises against gold investing, citing the trade-off between reduced volatility and lost long-term returns, particularly for younger investors [5] - Brett Elliott suggests a 2% to 5% allocation for income-focused investors, while growth-oriented investors may consider 10% to 15% [7] - Blake McLaughlin supports a 5% to 8% allocation based on historical data, emphasizing gold's resilience during economic uncertainty [9] - Thomas Winmill recommends a long-term allocation of 5% to 15%, particularly through gold mining companies [10] - Vince Stanzione advocates for a 20% allocation in physical gold or gold ETFs as a wealth protection strategy [12]