Gold Pressured by Strong US Jobs Data

2026-06-03 00:02 By Jam Kaimo Samonte 1 min. read

Gold prices held below $4,500 per ounce on Wednesday, holding losses from earlier in the week as stronger-than-expected US labor market data reinforced expectations that the Federal Reserve may keep interest rates elevated for an extended period.

Data released on Tuesday showed US job openings surged in April to their highest level in nearly two years, while layoffs declined, pointing to continued resilience in the labor market.

Investors are now focused on Friday’s closely watched nonfarm payrolls report for further clues on the trajectory of monetary policy.

Meanwhile, ongoing uncertainty surrounding US-Iran peace negotiations contributed to higher oil prices, fueling concerns about inflation and strengthening the case for a more restrictive Fed stance.

Still, President Donald Trump stated that talks remain underway, while reports suggest Iranian officials are reviewing a “final text” that could be submitted to the US as negotiations continue.



News Stream
Gold Pressured by Strong US Jobs Data
Gold prices held below $4,500 per ounce on Wednesday, holding losses from earlier in the week as stronger-than-expected US labor market data reinforced expectations that the Federal Reserve may keep interest rates elevated for an extended period. Data released on Tuesday showed US job openings surged in April to their highest level in nearly two years, while layoffs declined, pointing to continued resilience in the labor market. Investors are now focused on Friday’s closely watched nonfarm payrolls report for further clues on the trajectory of monetary policy. Meanwhile, ongoing uncertainty surrounding US-Iran peace negotiations contributed to higher oil prices, fueling concerns about inflation and strengthening the case for a more restrictive Fed stance. Still, President Donald Trump stated that talks remain underway, while reports suggest Iranian officials are reviewing a “final text” that could be submitted to the US as negotiations continue.
2026-06-03
Gold Rebounds as Oil Prices Ease
Gold climbed back above $4,500 per ounce on Tuesday, recovering from the previous session’s losses as a pullback in oil prices helped temper inflation concerns, even as US-Iran peace negotiations remained deadlocked. On Monday, Iranian media reported that Tehran had suspended communications with Washington in response to Israeli attacks in Lebanon. Meanwhile, President Donald Trump said talks are still ongoing and indicated that a memorandum of understanding with Iran to reopen the Strait of Hormuz could be reached as soon as next week. Despite the easing in oil prices, markets continue to price in a Federal Reserve rate hike before year-end after US inflation accelerated, largely driven by the Middle East conflict. Investors are now awaiting Tuesday’s JOLTS job openings report ahead of the closely watched US monthly employment data on Friday for further insight into the Fed’s policy outlook.
2026-06-02
Gold Holds Losses on Inflation Worries
Gold traded below $4,500 per ounce on Tuesday after declining in the previous session, pressured by stalled peace negotiations between the US and Iran that kept inflation risks and interest rate expectations at the forefront. On Monday, Iranian media reported that Tehran had suspended communications with Washington in response to Israeli attacks in Lebanon. Meanwhile, President Donald Trump said discussions are still ongoing and suggested that a memorandum of understanding with Iran to reopen the Strait of Hormuz could be reached as early as next week. Markets are currently factoring in a Federal Reserve rate hike before year-end after US inflation accelerated, driven in large part by the Middle East conflict. Investors are now awaiting this week’s US monthly jobs report and comments from Fed officials for additional clues on the future path of monetary policy.
2026-06-01