Kitco
01 Jul 2026, 12:32 UTC · 3h ago
Gold trades near session highs after ADP says net 98K jobs were added in June
NewsImpactScreener rates every claim in this story for market impact and maps it to the tickers most exposed.
Kitco
01 Jul 2026, 12:32 UTC · 3h ago
NewsImpactScreener rates every claim in this story for market impact and maps it to the tickers most exposed.
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3 claims · each scored for market impact
ADP reported U.S. private sector payrolls added 98,000 jobs in September, missing the consensus forecast of 105,000. — Lower-than-expected job growth suggests a cooling labor market, which typically increases expectations for dovish Fed policy and lowers Treasury yields.
+0.60Spot gold prices traded higher, rising 0.48% to $4,026.83 per ounce following the ADP employment data. — The price action confirms that markets are interpreting the soft jobs data as a catalyst for non-yielding assets like gold.
+0.40ADP noted that hiring was uneven, with financial activities and information gaining while leisure and hospitality saw a sixth month of weak hiring. — Sector-specific weakness provides a more nuanced view of economic health but is less impactful than the headline miss.
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The company's employment report showed job creation was lower than expected, indicating a slowdown in the labor market.
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