Gold Rebounds After Jobs Data

2026-01-09 14:28 By Felipe Alarcon 1 min. read

Gold rose around 0.3% to above 4,490 per ounce paring early losses as softer US labor data reinforced expectations for Fed rate cuts this year.

December nonfarm payrolls rose by just 50,000, well below forecasts, while the unemployment rate fell sharply to 4.4%, confirming a low-hiring, low-firing environment that supports lower interest rates without signaling major labor market stress.

That shift increased demand for non-yielding assets even as the US dollar remained relatively firm, limiting upside momentum.

Geopolitical risks continued to underpin bullion, following renewed US actions and rhetoric around Venezuela and Iran, while structural support remained strong as China’s central bank extended its gold-buying streak to 14 months, tightening available supply and helping gold retain a weekly gain of around 3%.



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