{
  "id": 11350442,
  "title": "Gold slips before US payrolls data, set for second weekly loss",
  "url": "https://urgent.news/2026/10/02/gold-slips-before-us-payrolls-data-set-for-second-weekly-loss-11350442",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-02T03:14:00.000Z",
  "source": {
    "name": "MyJoyOnline Ghana",
    "slug": "myjoyonline-ghana",
    "url": "https://www.myjoyonline.com/gold-slips-before-us-payrolls-data-set-for-second-weekly-loss/"
  },
  "original_language": "en",
  "account": "Gold prices slipped on Friday, potentially marking a second week of decline. The downward trend was driven by a stronger US dollar and rising Treasury yields, as investors awaited key US employment data to gauge the Federal Reserve's policy course. Spot gold slipped 0.6% to $4,154.78 per ounce by 0205 GMT and had fallen more than 3% for the week. US gold futures also dropped 0.4% to $4,184.00. Meanwhile, the US dollar was poised for a weekly increase, making dollar-denominated metals pricier for non-US investors. Treasury yields on both 10- and 30-year bonds hit their highest levels since 2002 on Thursday. Analyst Kyle Rodda noted that market participants are closely watching US interest rate expectations and Middle East geopolitical developments. \"US nonfarm payroll data will be critical for rate expectations,\" he said. \"If it comes in hot, it may increase the likelihood of rate hikes by the Fed, which could further pressure gold prices.\" Just two days ago, two Federal Reserve policymakers made a strong case for waiting for more data before deciding on another rate hike. On Wednesday, US inflation data showed a smaller-than-expected increase in August, and the price pressures in July were milder than initially reported. Currently, traders are pricing in only a 25% chance of a rate hike this month, down from about 70% earlier in the week. However, the odds of a December hike remain relatively high at 79%. Generally, higher borrowing costs make gold less attractive, as it does not pay interest. Elsewhere, Iran is reportedly preparing a more substantial response to any potential US military aggression, while maintaining diplomatic efforts that officials privately view as futile. Spot silver lost 0.5% to $60.53, platinum fell 0.4% to $1,716.93, and palladium rose marginally 0.1% to $1,172.80, all trailing for weekly losses.",
  "summary": "Gold prices fell on Friday and were on track for a second straight weekly decline, pressured by a firmer US dollar and elevated Treasury yields, while investors awaited key US payrolls data for clues on the Federal Reserve's policy path.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Business Recorder",
        "title": "Gold slips before US payrolls data, set for second weekly loss",
        "url": "https://urgent.news/2026/10/02/gold-slips-before-us-payrolls-data-set-for-second-weekly-loss",
        "published": "2026-10-02T02:44:30.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}