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Gold holds above $4,000 as strong US job growth offsets election-driven gains

Market News
04 Nov 2026, 15:33 WIB
Kitco
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Neutral
Gold holds above $4,000 as strong US job growth offsets election-driven gains

Gold prices remain above $4,000 an ounce after the US labor market showed stronger-than-expected job growth in October, with 86,000 jobs added versus a forecast of 67,000. This solid employment data suggests ongoing economic strength, which could pressure gold prices despite recent gains driven by the Democratic Party's midterm election success. The labor market's resilience, including steady pay increases, may limit gold's upside as investors weigh economic fundamentals against political developments.

Gold prices remain above $4,000 an ounce as of November 4, 2026. For readers following US stocks, here is Pluang's market snapshot as of Nov 04, 2026 19:11 WIB: out of 150 priced US stocks, 125 rose and 23 fell. Notable movers include Barclays PLC at USD 23.57 (+5.22%, 100% sell orders), Newmont Corporation at USD 113.03 (+5.17%, 90% buy orders), and Barrick Gold Corp at USD 38.94 (+5.10%, 75% buy orders).

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