{
  "id": 12079613,
  "title": "Gold bulls remain on the sidelines as USD rallies to fresh YTD peak",
  "url": "https://urgent.news/2026/10/05/gold-bulls-remain-on-the-sidelines-as-usd-rallies-to-fresh-ytd-peak",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-05T04:43:14.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/gold-bulls-remain-on-the-sidelines-as-usd-rallies-to-fresh-ytd-peak-202610050443"
  },
  "original_language": "en",
  "account": "Gold prices have been unable to take advantage of a slight uptick in Asian trading on Monday and are currently trading just below $4,150, barely unchanged for the day. As investors look past Friday's disappointing US jobs figures, the US Dollar has gained strong positive momentum and reached a fresh high since April 2025. This development is considered a key factor in restraining the price of gold. The US Nonfarm Payrolls report revealed that the economy added 29,000 new jobs in September, which was lower than the revised estimate of 133,000 and the 90,000 consensus estimate. Furthermore, the Unemployment Rate rose to 4.2% from 4.1% in August, while wage growth slowed to 3.0% in September. This, coupled with easing US inflation data, has eased pressure on the Federal Reserve to raise interest rates. Analysts at ABN Amro view the recent US labor market report as \"consistent with our base case,\" stating that \"the apparent resurgence in the labor market over the previous two reports was somewhat of a mirage.\" They also note that \"the three-month average of 51k is solid given labor supply, but it does not indicate a hot or tight market,\" and assert that softer employment figures, along with the downside surprise in the PCE report earlier this week, have removed pressure on the Fed to hike rates in October. Despite this, ABN Amro believes that \"persistent inflationary pressure from the energy shock\" will likely prompt one more Fed hike in December. Geopolitical factors, such as ongoing conflicts in the Middle East and the escalating Russia-Ukraine war, have bolstered the safe-haven appeal of the US Dollar. Recent statements from Iran's and Yemen's leaders, along with reports of Russian air strikes in Ukraine, add to the geopolitical risk premium favoring the US Dollar. With the US Dollar nearing 17-month highs and Gold struggling to break above its 100-period Simple Moving Average at $4,269, the outlook for XAU/USD remains bearish short-term.",
  "summary": "Gold (XAU/USD) struggles to capitalize on a modest Asian session uptick on Monday and currently trades just below $4,150, nearly unchanged for the day amid mixed cues.",
  "key_points": [
    "Gold prices trading just below $4,150, barely unchanged",
    "US Dollar reaches fresh high since April 2025",
    "US Nonfarm Payrolls added 29,000 jobs, below expectations"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "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."
}