# Gold falls as U.S. payrolls surge by 165,000, strengthening December Fed hike case - Kitco AM Report

> US nonfarm payrolls increased by 165,000 in October, well above expectations of about 65,000, while unemployment fell to 4.1% and hourly earnings rose 0.4% month over month. Treasury yields and the dollar moved higher after the release as markets assessed the possibility of another Federal Reserve rate increase in December.

- Date: 2026-11-06 · published 2026-11-06T15:16:10.339Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/84224-gold-falls-as-u-s-payrolls-surge-by-165-000-strengthening-december-fed-hike
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Stronger employment and wage growth can support higher interest rates and the US dollar, tightening financial conditions and weighing on dollar-priced commodities.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-04-11 | [FOMC minutes lean hawkish; dollar strengthens, gold slips By Seeking Alpha](https://feedsoft.ai/events/65435-fomc-minutes-lean-hawkish-dollar-strengthens-gold-slips-by-seeking-alpha.md) | -0.3% | +3.4% |
| DXY | 2024-04-10 | [Dollar Surges as a Hot US CPI Report Dampens Fed Rate Cut Expectations](https://feedsoft.ai/events/12560-dollar-surges-as-a-hot-us-cpi-report-dampens-fed-rate-cut-expectations.md) | +2.0% | +1.2% |
| DXY | 2019-12-06 | [Dollar gains after stronger-than-expected U.S. jobs report \| Reuters](https://feedsoft.ai/events/55796-dollar-gains-after-stronger-than-expected-u-s-jobs-report-reuters.md) | -0.4% | -1.1% |
| DXY | 2024-06-07 | [Nonfarm Payrolls increase 272,000 in May vs. 185,000 expected](https://feedsoft.ai/events/8479-nonfarm-payrolls-increase-272-000-in-may-vs-185-000-expected.md) | +1.4% | +0.8% |
| DXY | 2017-08-09 | [​Gold futures fall as sound job data lifts U.S. dollar_Xinhua Finance Agency](https://feedsoft.ai/events/69369-gold-futures-fall-as-sound-job-data-lifts-u-s-dollar-xinhua-finance-agency.md) | +0.1% | -1.7% |

## Sources

- kitco.com: https://www.kitco.com/news/article/2026-11-06/gold-falls-us-payrolls-surge-165000-strengthening-december-fed-hike-case

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