WS News
02 Oct 2026, 13:39
Gold and Silver Rise After Weak U.S. Jobs Data Boosts Rate-Cut Expectations
Gold and silver moved higher on Friday after weaker-than-expected U.S. employment data strengthened expectations for a more accommodative Federal Reserve policy outlook.
December gold futures rose 0.57% to about $4,226 per ounce, while December silver futures gained 1.09% to around $61.84.
The move followed a notably soft September jobs report. Nonfarm payrolls increased by just 29,000, well below expectations of 89,000, while the unemployment rate rose to 4.2%. Wage growth also cooled, with average hourly earnings rising 3.0% year over year, below the 3.2% consensus.
For precious metals, weaker labor-market data are supportive because they can increase expectations for lower interest rates and reduce the opportunity cost of holding non-yielding assets such as gold and silver.
Silver outperformed gold during the session, with the stronger percentage gain also reflecting its higher volatility and dual role as both a precious and industrial metal.
Gold and silver moved higher on Friday after weaker-than-expected U.S. employment data strengthened expectations for a more accommodative Federal Reserve policy outlook.
December gold futures rose 0.57% to about $4,226 per ounce, while December silver futures gained 1.09% to around $61.84.
The move followed a notably soft September jobs report. Nonfarm payrolls increased by just 29,000, well below expectations of 89,000, while the unemployment rate rose to 4.2%. Wage growth also cooled, with average hourly earnings rising 3.0% year over year, below the 3.2% consensus.
For precious metals, weaker labor-market data are supportive because they can increase expectations for lower interest rates and reduce the opportunity cost of holding non-yielding assets such as gold and silver.
Silver outperformed gold during the session, with the stronger percentage gain also reflecting its higher volatility and dual role as both a precious and industrial metal.
