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Gold prices jump over 2% as US job growth falls short of expectations in June

Market News
02 Jul 2026
Kitco
View Source
Bullish
pluang ai news

US nonfarm payrolls increased by only 57,000 in June, well below the forecasted 114,000, signaling a slowdown in the labor market despite hopes for a boost from the World Cup. This weaker-than-expected job growth has driven gold prices higher, with spot gold rising above $4,100 an ounce, up more than 2% on the day. The disappointing labor data suggests economic uncertainty, which often boosts demand for gold as a safe-haven asset. Investors will be watching upcoming economic reports and Federal Reserve actions for further market direction.

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