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Gold struggles to stay above $4,500 as US job openings rise unexpectedly in April.

Market News
02 Jun 2026
Kitco
View Source
Neutral
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Gold prices are struggling to hold above $4,500 an ounce despite a stronger-than-expected US labor market report showing job openings rose to 7.62 million in April, up from 6.89 million in March. The resilient labor market suggests the Federal Reserve may continue focusing on inflation and potentially raise interest rates later this year, which could weigh on gold prices. Spot gold traded slightly higher at $4,502.90 an ounce but has not made decisive gains above the key support level. This dynamic highlights the tension between economic strength and inflation concerns impacting gold's near-term outlook.

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