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Spot Gold Falls Over 3% on June 5 as Strong U.S. May Jobs Growth Fuel Fed Rate Hike Concerns

2026-06-05 15:56:06

According to Jin10 Data, spot gold dropped over 3 percent on June 5 following strong U.S. employment growth in May, which triggered concerns about potential Federal Reserve rate hikes later this year. Kapital Economics economist Stephen Brown stated that as long as the labor market avoids a major summer unemployment scare, the possibility of several Fed rate hikes by year-end becomes increasingly likely. Separately, stalled U.S.-Iran negotiations and renewed Middle East conflict continue to push oil prices higher and intensify inflation concerns, reinforcing market expectations that the Federal Reserve may maintain elevated interest rates for an extended period.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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U.S. 10-Year Treasury Yield Rises 4bp to 4.520% After June 5 NFP Release; Gold Falls

Spot Silver Plummets 3.5% to $71.27, Hits 6-Week Low on June 5

In-Depth Analysis

S&P 500 and Nasdaq Fall as May Jobs Report Raises Rate Hike Concerns

Lucas Bennett1h ago

Commerzbank Cuts Gold Target to $4,800/oz, Silver to $80/oz Amid Iran War Inflation

Lucas Bennett3h ago

Tonight, the US May non-farm payrolls report will be released; a more hawkish stance from the Federal Reserve could either impact or disrupt the crypto market

Gate Instant Trends5h ago

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