Friday, 28 September 2026 will see the release of the U.S. nonfarm payrolls and unemployment data, a key gauge for the Federal Reserve's October policy meeting.
The week before, gold futures slipped 2.3% on the Multi Commodity Exchange while silver fell 3%, reflecting traders’ pre‑emptive pricing for a potential second Fed rate hike.
A stronger jobs reading would tighten the dollar, pressuring bullion, whereas a weaker report could soften the currency and lift gold and silver. Jateen Trivedi of LKP Securities warned that volatility would likely persist as markets digest the data.
U.S. Treasury yields have climbed to their highest levels since 2007, tightening the carry trade and adding pressure on gold and silver. Meanwhile, the U.S.–Iran standoff over the Strait of Hormuz keeps oil markets jittery, and higher crude supplies from Saudi Arabia and Iraq have kept prices flat, a factor that could sway commodity sentiment.
In Mumbai, gold dealer Arun Kumar watches the price tick, hoping the data will lift his inventory value by ₹5,000 per gram and deliver a rally that could offset last week’s losses.
Once the data hits the market, traders will adjust positions, and the next headline could read "Jobs Report Boosts Gold to New Highs" or "Weak Employment Data Softens Bullion."