# Gold drops over 1% on higher oil prices; US payrolls data in focus

> Spot gold fell 1.1% to $4,044.09 an ounce as rebounding oil prices stoked inflation concerns and expectations that interest rates could remain elevated. Investors awaited US payrolls data, while gold was still on track for its strongest week since late August.

- Date: 2026-11-06 · published 2026-11-06T06:15:16.696Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/83458-gold-drops-over-1-on-higher-oil-prices-us-payrolls-data-in-focus
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Higher energy prices can reinforce expectations of tighter monetary policy, weighing on non-yielding gold. The article reports no direct feed or agricultural commodity effect.

## Read by commodity

- WTI: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-11-10 | [Oil prices settle 1% higher on tepid U.S. inflation data \| Reuters](https://feedsoft.ai/events/38852-oil-prices-settle-1-higher-on-tepid-u-s-inflation-data-reuters.md) | -0.2% | -16.8% |
| WTI | 2024-12-24 | [Oil prices up on US growth data](https://feedsoft.ai/events/27128-oil-prices-up-on-us-growth-data.md) | +4.0% | +7.9% |
| WTI | 2023-08-25 | [Oil futures up 1% to one-week high on soaring US diesel prices](https://feedsoft.ai/events/34772-oil-futures-up-1-to-one-week-high-on-soaring-us-diesel-prices.md) | +5.3% | +13.4% |
| WTI | 2020-10-08 | [Canadian dollar rallies on higher oil prices, U.S. stimulus hopes \| Financial Post](https://feedsoft.ai/events/50857-canadian-dollar-rallies-on-higher-oil-prices-u-s-stimulus-hopes-financial-post.md) | +2.7% | -2.1% |
| WTI | 2020-12-02 | [Canadian dollar notches a 2-year high on higher oil prices \| Financial Post](https://feedsoft.ai/events/49875-canadian-dollar-notches-a-2-year-high-on-higher-oil-prices-financial-post.md) | +2.4% | +8.4% |
| DXY | 2022-11-10 | [Oil prices settle 1% higher on tepid U.S. inflation data \| Reuters](https://feedsoft.ai/events/38852-oil-prices-settle-1-higher-on-tepid-u-s-inflation-data-reuters.md) | -1.6% | -2.8% |
| DXY | 2025-08-28 | [Metals Edge Higher on Weaker Dollar, PCE Data in Focus - ADM Investor Services](https://feedsoft.ai/events/23248-metals-edge-higher-on-weaker-dollar-pce-data-in-focus-adm-investor-services.md) | +0.0% | -0.2% |
| DXY | 2026-05-28 | [Gold prices pare losses after U.S. inflation data](https://feedsoft.ai/events/19167-gold-prices-pare-losses-after-u-s-inflation-data.md) | +0.2% | +1.6% |

## Sources

- english.aawsat.com: https://english.aawsat.com/business/5338190-gold-drops-over-1-higher-oil-prices-us-payrolls-data-focus
- brecorder.com: https://www.brecorder.com/news/40447728/gold-drops-over-1-on-higher-oil-prices-us-payrolls-data-in-focus

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