Gold Futures Dip Below $4,500 Ahead of Key US Jobs Report

Gold futures (GC=F) edged lower on Friday, June 5, 2026, as investors awaited the U.S. May employment report, which is expected to show an 85,000 increase in nonfarm payrolls and an unchanged unemployment rate of 4.3%. August gold futures fell to $4,492.20 per troy ounce in early trading, down from Thursday’s close of $4,505. The decline came amid cautious market positioning and renewed geopolitical uncertainty after Hezbollah rejected a proposed Israel-Lebanon ceasefire. A stronger-than-forecast jobs number could complicate the Federal Reserve’s inflation calculus, as wage pressures remain in focus. The central bank has struggled to balance persistent price growth against signs of a cooling labor market. Gold’s move lower reverses part of the metal’s recent gains, which have been propelled by its nearly 96% rise over the past year.