Gold Price Falls 3% on Weak U.S. Jobs Report, Eyes $4,000 Support - News and Statistics - IndexBox

AI desk brief

Gold fell more than 3% on the week to $4,137/oz after early gains on a weak U.S. jobs report faded, leaving the market unable to hold above $4,200. The September payrolls print showed just 29,000 jobs created, unemployment rose to 4.2%, and wage growth slowed to 0.1%, but traders said elevated yields and persistent inflation are still limiting bullion’s upside.

Desk commentary was mixed: some analysts said the report removes an October hike from consideration, but December tightening is still priced and bond yields may remain supportive of the dollar. Near term, $4,200 is the key pivot, with a weekly close above that level seen opening $4,280, while failure could retest $4,100 and potentially $4,000 support.