Gold slumps 2% as strong US employment data fuels higher-rate outlook
- Posted on June 5, 2026
- By Financial Express
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- 1 min read
Gold slumps 2% as strong US employment data fuels higher-rate outlook
Although gold is seen as an inflation hedge, higher rates tend to weigh on the metal. Markets are currently pricing about a 68% chance of a Fed rate hike in December, according to CME Group's FedWatch tool, compared to about 50% before the jobs data.
