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Gold dips as strong U.S. jobs data boosts Fed rate hike chances and dollar strength.

Market News
06 Nov 2026, 16:11 WIB
Kitco
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Bearish
Gold dips as strong U.S. jobs data boosts Fed rate hike chances and dollar strength.

Gold prices fell nearly 0.9% after U.S. October jobs data showed a much stronger-than-expected gain of 165,000 new jobs, lowering unemployment to 4.1% and pushing wages higher. This robust labor market supports expectations for another Federal Reserve interest rate hike in December, which lifted Treasury yields and the dollar, pressuring gold. Meanwhile, geopolitical tensions in the Strait of Hormuz and mixed market reactions to tech sector declines add complexity to the outlook. Investors now await upcoming inflation data to gauge the Fed's next moves amid ongoing economic resilience and global risks.

Gold prices and U.S. payrolls data provide context for market activity. For readers following U.S. stocks, here is Pluang's market snapshot as of Nov 06, 2026 20:21 WIB: out of 150 priced US stocks, 60 rose and 85 fell. Notable movers include MRVL at USD 146.61 (+9.78%), UMC at USD 14.59 (+9.04%), and AMAT at USD 346.71 (+8.60%).

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