# Gold Faces a Payrolls Test With Fed Hike Odds Still Near 80%

> Spot gold rose about 1.5% to around $4,122 an ounce on November 5 after a 3.4% gain the previous day, extending a post-election rebound from a 12-month low hit on October 30. Gold remains down about 4.4% for 2026 and roughly 26% below its record high, with the move driven by a weaker dollar, lower Treasury yields and falling equities.

- Date: 2026-11-05 · published 2026-11-05T21:12:17.705Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/82454-gold-faces-a-payrolls-test-with-fed-hike-odds-still-near-80
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Gold is not a feed ingredient, so the move has no direct effect on feed commodity supply or demand. It reflects broader macro flows (dollar, yields, equities) that can influence energy and currency-linked commodity pricing.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-07-29 | [Gold trims gain as Fed holds rates, signals hike support](https://feedsoft.ai/events/18264-gold-trims-gain-as-fed-holds-rates-signals-hike-support.md) | -0.9% | -2.0% |
| DXY | 2023-02-02 | [Dollar strength nears end with small Fed rate hike, breaks 101 handle](https://feedsoft.ai/events/37555-dollar-strength-nears-end-with-small-fed-rate-hike-breaks-101-handle.md) | +1.3% | +2.1% |
| DXY | 2019-01-11 | [Gold shines on weak dollar, Fed chief's dovish tone on rate hike](https://feedsoft.ai/events/61008-gold-shines-on-weak-dollar-fed-chief-s-dovish-tone-on-rate-hike.md) | +0.4% | +0.9% |
| DXY | 2024-08-14 | [Euro Nears Year’s High on Bet Fed Will Cut Rates Faster Than ECB](https://feedsoft.ai/events/29016-euro-nears-year-s-high-on-bet-fed-will-cut-rates-faster-than-ecb.md) | -1.0% | -0.2% |
| DXY | 2022-11-02 | [US dollar falls broadly after the Fed hints at a slower pace of rate hikes](https://feedsoft.ai/events/38845-us-dollar-falls-broadly-after-the-fed-hints-at-a-slower-pace-of-rate-hikes.md) | -1.4% | -4.2% |

## Sources

- investing.com: https://www.investing.com/analysis/gold-faces-a-payrolls-test-with-fed-hike-odds-still-near-80-200690961

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.