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Gold jumps as US yields drop; market awaits jobs report
Gold rallied as US Treasury yields softened and inflation fears eased. The market is now positioned for the upcoming jobs print and the Fed's next signal.
AAida Hosseini·2026-05-30·6 min
Spot gold extended its weekly winning streak to four sessions, closing 1.2% higher as 10-year Treasury yields slid below 4.18%.
What moved the tape
Soft CPI prints and dovish commentary from two regional Fed presidents combined with safe-haven flows out of equities. The dollar index lost 0.6%, its largest single-day drop in three weeks.
What's next
Traders are positioned ahead of Friday's non-farm payrolls. Consensus is for 175k jobs added; anything sub-150k would likely send gold through the $2,430 resistance.