Gold Prices Fall as Strong US Employment Data Strengthens Fed Rate Hold Expectations
Gold prices edged lower during Wednesday morning trading (June 3, 2026). According to Bloomberg data at 07:47 WIB, gold futures for August 2026 delivery on the Commodity Exchange stood at US$4,513.40 per troy ounce, down 0.14% from the previous session’s US$4,519.90 per troy ounce.
Gold prices weakened after stronger-than-expected US labor market data reinforced market speculation that the Federal Reserve may keep interest rates higher for a longer period.
Data from the US Bureau of Labor Statistics showed that US job openings in April surged to their highest level in nearly two years, while layoffs declined, signaling continued strength in the labor market.
Traders are also closely watching potential progress in US-Iran peace negotiations aimed at ending the conflict that has disrupted global energy supplies and fueled inflation concerns worldwide.
Since the end of February 2026, gold prices have fallen by approximately 15%, reflecting shifting market sentiment amid expectations of prolonged high interest rates and easing geopolitical tensions.