Precious Metals Settle Lower Ahead of January Jobs

Core Viewpoint - Precious metals, specifically gold and silver, experienced a decline in futures prices ahead of the January jobs report, breaking their recent winning streaks [1] Group 1: Market Performance - Gold futures closed down 0.9% at $5,003.80 per troy ounce, remaining just above the $5,000 mark [1] - Silver futures fell 2.3% to $80.218 per ounce, significantly lower than its record high reached in January [1] Group 2: Economic Indicators - The Bureau of Labor Statistics (BLS) is set to release payroll data that was delayed due to a partial government shutdown [1] - A weaker than expected jobs report could increase pressure on the Federal Reserve to consider cutting interest rates, following a flat retail sales report for December [1] Group 3: Implications for Precious Metals - An eventual rate cut by the Federal Reserve could provide support for precious metals, potentially reversing the current downward trend [1]