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Gold steady near $4,327 as Middle East tensions offset by strong US jobs data and rate concerns.

Market News
08 Jun 2026
Kitco
View Source
Neutral
pluang ai news

Gold prices held steady near $4,327 an ounce while silver rose slightly amid mixed market forces. Renewed tensions in the Middle East supported safe-haven demand, but stronger US jobs data and expectations of higher interest rates capped gains. The US added 172,000 jobs in May, keeping unemployment steady at 4.3%, which pressured non-yielding metals like gold. Investors now await upcoming US inflation data (CPI and PPI) for further direction. Oil prices remain elevated due to geopolitical risks, influencing rate expectations and gold's outlook. Technical levels suggest gold could test resistance near $4,350-$4,370 or fall below support at $4,300, while silver eyes a move above $70 or a drop below $65.

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