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U.S. nonfarm payrolls rose by 165,000 in October, well above expectations of 65,000, while the unemployment rate fell. The stronger labor data increased market expectations of a Federal Reserve rate hike in December, and a firmer dollar contributed to gold's decline.
Higher rate expectations and a stronger dollar can support the dollar and weigh on dollar-denominated commodity prices, though the article reports no direct change in feed-market supply or demand.
investing.comScott KanowskyNov 6, 2026After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
