Business · Energy & Commodities · 7 hrs ago
Strong US jobs data weighs on gold and silver prices
On Friday, gold and silver futures in India fell after new US jobs figures shifted market expectations.
US employers added 165,000 jobs in October, well above economists’ forecast of 65,000.
Strong hiring suggests the US economy remains resilient, while inflation is still above the Federal Reserve’s 2% target.
Investors increasingly expect a 0.25-point Fed rate rise in December, which can make gold and silver less attractive because they do not pay interest.
A stronger US dollar can also weigh on precious metals by making them costlier for buyers using other currencies.
On India’s MCX, gold fell ₹1,700 to ₹1,42,930 per 10 grams and silver slipped 1.26% to ₹1,84,800 per kilogram, though both remained on track for weekly gains.
Prices may stay volatile as investors assess the Fed’s next move.
Gold and silver prices fell on Friday after stronger-than-expected US jobs data increased expectations of a Federal Reserve rate hike in December.
US employers added 165,000 jobs in October, more than double economists’ expectations of 65,000.
On India’s Multi Commodity Exchange, December gold futures fell ₹1,700 to ₹1,42,930 per 10 grams, while silver futures dropped 1.26% to ₹1,84,800 per kilogram.
In international spot trading cited by Sabah, gold fell 1.20% to $4,049.99 an ounce and silver fell 0.92% to $51.53 an ounce.
Despite Friday’s declines, both metals remained on track for weekly gains, according to Mint.
- Who
- Gold and silver markets reacted to US employment data.
- What
- Gold and silver prices fell. Strong jobs data increased expectations of a Federal Reserve rate hike.
- When
- Friday, November 6, 2026.
- Where
- US employment data affected precious-metal prices in international markets and India.
- Why
- October job growth exceeded expectations, reinforcing views that the Federal Reserve may raise interest rates in December.
This story does not have two clearly opposing sides.
US employers added 165,000 jobs, above economists’ expectations of 65,000.
After the jobs data was released, gold and silver prices fell and expectations of a December Federal Reserve rate hike increased.
- US jobs added in October
- 165,000
- Economists’ expected job gains
- 65,000
- December rate-hike probability
- 77%, according to CME FedWatch data
- MCX December gold futures
- ₹1,42,930 per 10 grams, down ₹1,700
- MCX silver futures
- ₹1,84,800 per kilogram, down 1.26%
- Spot gold in Sabah report
- $4,049.99 per ounce, down 1.20%