Gold Retreats as Strong US Jobs Report Dims Rate-Cut Prospects

Gold slipped after robust US jobs data reduced expectations that the Federal Reserve will move quickly to cut interest rates.

Bullion retreated to near $5,060 an ounce in early trading, after adding 1.2% in the previous session. US payrolls rose by the most in more than a year and the unemployment rate in January, suggesting the American labor market continued to stabilize at the start of 2026.

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The data may reinforce Fed officials’ inclination to keep interest rates for now, with many traders appearing to push out their timeline for the next rate cut to July from June. Lower interest rates are a tailwind for precious metals, which don’t pay interest.

Spot gold fell 0.4% to $5,061.81 an ounce as of 7:15 a.m. in Singapore. Silver slid 1.1% to $83.38. Platinum and palladium both declined. The , a gauge of the US currency, ended the previous session 0.1% lower.