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

Robin Paxton
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⚡ Quantum Brief
Gold prices fell 0.6% on Thursday after stronger-than-expected U.S. jobs data reduced bets on imminent Federal Reserve interest rate cuts. January payrolls surged to the highest level in over a year, while unemployment unexpectedly dropped, signaling a resilient labor market in early 2026. The decline reversed a 1.2% gain from the prior session, as traders adjusted expectations for monetary policy easing amid economic strength. Bullion, a non-yielding asset, typically loses appeal when rate-cut prospects diminish, as higher borrowing costs increase opportunity costs for holding gold. The shift reflects broader market sentiment that the Fed may delay policy shifts despite earlier speculation about easing in response to inflation trends.
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Gold:Gold slipped after robust US jobs data reduced expectations the Federal Reserve will move quickly to cut interest rates.Bullion retreated as much as 0.6% on Thursday, after adding 1.2% in the previous session. US payrolls rose by the most in more than a year and the unemployment rate fell unexpectedly in January, suggesting the American labor market continued to stabilize at the start of 2026.

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