Gold Falls on PMI Data as Fed Cut Outlook Shifts (NYMEX: Gold)

Gold fell on Thursday as stronger-than-expected U.S. jobs data reduced expectations for a Federal Reserve rate cut in the near term. The labor force increased by the most in over a year in January, and the unemployment rate unexpectedly declined, suggesting stability in the labor market at the start of 2026. This likely supports the Fed’s stance of pausing interest-rate policy for now, pushing the next rate cut possibly to July from June. Spot gold slipped 0.4% to $5,065.56 an ounce as of 7:45 a.m. in Singapore. Silver fell 0.8% to $83.60, platinum was 1% lower, and palladium was down 1.5%. The Bloomberg Dollar Spot Index was flat after ending the previous session 0.1% lower. The data may keep the Fed’s interest-rate outlook on hold, tempering near-term support for gold which benefits from lower interest rates.