Gold Pares Some Gains After Strong Labor Data

2026-02-11 13:44 By Felipe Alarcon 1 min. read

Gold traded around $5,060 per ounce after paring earlier gains, as stronger US labor data tempered expectations for rapid Federal Reserve easing while keeping the broader policy pivot intact.

Nonfarm payrolls rose 130K in January, well above the revised 48K in December and forecasts of 70K, while the unemployment rate fell to 4.3% and average hourly earnings increased 0.4% month on month, lifting annual wage growth to 3.7%.

The firmer employment and wage figures reduced the urgency for near term rate cuts, prompting traders to push back the next fully priced 25 bps move to July from June, supporting Treasury yields and limiting further upside in bullion.

Still, gold remains near multi week highs as markets continue to anticipate easing later this year amid moderating growth momentum, persistent geopolitical risks, and sustained central bank demand, with the PBoC extending its buying streak, reinforcing structural support for prices despite the more resilient labor backdrop.



News Stream
Gold Plunges as Trump’s Iran Stance Lifts Dollar, Rate Hike Fears
Gold prices slid over 2% to around $4,677 per ounce, snapping a four-day winning streak, as the US dollar and oil prices surged following President Donald Trump’s vow to intensify attacks on Iran. His remarks, confirming the US had "nearly accomplished" its military objectives but offering no end in sight to the month-long conflict, sparked inflation fears and reinforced expectations of higher interest rates. In a Wednesday address, President Trump declared that US forces had "nearly achieved" their objectives in Iran, yet stopped short of providing a timeline for ending the month-long war, instead vowing to hit Iran "extremely hard" in the coming "two to three weeks." On the other hand, Tehran dismissed his assertion that it had sought a ceasefire, reaffirming that the Strait of Hormuz remains firmly under IRGC Navy control. The dollar’s safe-haven rally weighed on dollar-denominated gold, which has now lost 13% of its value since the conflict began on February 28.
2026-04-02
Gold Snaps Four-Day Gain
Gold prices slid more than 4% to around $4,580 per ounce on Thursday, ending a four-day gain, as the US dollar rebounded after President Donald Trump offered no definitive timeline for ending the Middle East conflict. In his remarks, Trump said Washington’s core strategic objectives in Iran were approaching completion but also warned that the military campaign could continue with more intense action over the next two to three weeks, a stance that strengthened the US dollar. The greenback has recently emerged as a safe-haven asset, putting pressure on dollar-denominated precious metals. Oil prices also resumed their advance, reinforcing inflation concerns and expectations of tighter monetary policy. Traders have fully priced out the prospect of US rate cuts in 2026, a stark reversal from pre-war expectations of two cuts.
2026-04-02
Gold Hovers at Two-Week High
Gold prices edged above $4,790 per ounce on Thursday, holding onto a four-day gain near a two-week high, supported by a retreat in the US dollar amid hopes for a resolution to the Iran conflict. President Donald Trump appeared to signal a possible end to the US military operation in Iran, with attention now turning to his rare prime-time address later today, after more than a month of conflict. A White House official said he is expected to outline a two- to three-week timeline for concluding the operation. These developments helped oil prices pull back from recent highs and the dollar index retreat from a ten-month peak reached earlier this week. Gold has risen more than 6% so far this week, its largest gain in 10 weeks, as traders reassess the Federal Reserve’s monetary path, weighing the potential de-escalation of geopolitical tensions against renewed growth concerns and inflation worries.
2026-04-02