Gold suffers largest single-day drop since march as blowout jobs report slams rate-cut odds

From kitco.com

Gold posted its steepest single-session decline since March on Friday, as a far-stronger-than-expected U.S. employment report all but extinguished hopes for a near-term Federal Reserve rate cut and sent the dollar surging back above a key threshold. Gold futures shed $148.00, or 3.30%, to settle at $4,353.90 — wiping out a sizable chunk of the metal's recent gains and inflicting significant technical damage and erasing the gains made so far in 2026 in the process. The catalyst was the Labor Department's closely watched May nonfarm payrolls report, which showed the U.S. economy added 172,000 jobs last month, nearly ... (full story)