Kitco
05 Jun 2026, 12:41 UTC · 2h ago
Gold price see solid selling pressure as U.S. economy created 172k jobs in May
Kitco
05 Jun 2026, 12:41 UTC · 2h ago
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U.S. nonfarm payrolls rose by 172,000 in May, significantly exceeding the consensus forecast of 85,000. — Stronger-than-expected job growth increases the likelihood that the Federal Reserve will maintain or raise interest rates to combat inflation, which is bearish for non-yielding assets like gold.
-0.80April's employment data was revised upward to 179,000 jobs from the initial estimate of 64,000. — Substantial upward revisions to prior labor data reinforce the narrative of a tight labor market, adding further pressure for restrictive monetary policy.
-0.60The U.S. unemployment rate remained steady at 4.3%, matching consensus forecasts. — As the figure aligned perfectly with expectations, it provides no new catalyst for market movement.
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