Gold prices dropped significantly in the pre-market session after a much stronger-than-expected U.S. non-farm payrolls report. The data, which showed robust job growth and a lower unemployment rate, has solidified expectations for another Federal Reserve interest rate hike in December. This outlook strengthened the U.S. dollar, making gold more expensive for foreign buyers. Higher interest rates also increase the opportunity cost of holding non-yielding bullion, further pressuring gold prices downward.