Gold reacts to higher possiblity of Fed hike

Open account Download free app

Strong job growth in the US for May means that a rate hike by the Fed during the next two meetings is still on the table. Currently, the market is pricing in a 22 basis point increase for July.

It is worth noting that there has been a significant increase in the unemployment rate, which could be a signal to the Fed that their tightening policy is starting to take effect. It is also important to consider that the Non-Farm Payrolls report is a survey of businesses, while household surveys have shown a substantial decline in employment.

Although the data was strong, the most likely scenario is that the Fed will maintain interest rates in June, in line with their previous communication.

Nevertheless, today we are observing an increase in yields and a slight correction in gold. Yesterday's gains have been erased, and gold is currently approaching a test around $1960 per ounce. Key support is found around the $1945-1950 per ounce level. Gold has a stronger correlation with yields in the longer term, but in the short term, especially in recent sessions, we have seen an almost perfect correlation with EURUSD. When the path to a stronger rebound in EURUSD opens up, gold may rally back towards $2000. Seasonality suggests that the biggest gains should begin in early July, following an initial consolidation.

Source: xStation5

2 April 2026, 6:32 PM

Daily summary: Hopes for peace and space stocks in the spotlight

2 April 2026, 9:43 AM

Gold slumps 2.5% as Trump vows the escalation in the Middle East

2 April 2026, 8:42 AM

Chart of the day: OIL rebounds sharply on Trump's Iran speech 🛢️ 📈 US will abandon Hormuz❓(02.04.2026)

2 April 2026, 6:45 AM

Morning Wrap: Trump want to send Iran "back to the Stone Age". Indices tumble (02.04.2026)

Commodities

Cookie name	Description
SERVERID
userBranchSymbol	Expiration date 1 day
test_cookie	Expiration date 1 hour
adobe_unique_id	Expiration date 364 days
__hssc	Expiration date 1 hour
SESSID	Expiration date 1 day
__cf_bm	Expiration date 1 hour
intercom-id-iojaybix	Expiration date 270 days
intercom-session-iojaybix	Expiration date 6 days
xtbCookiesSettings	Expiration date 364 days
TS5b68a4e1027
countryIsoCode
xtbLanguageSettings	Expiration date 364 days
userPreviousBranchSymbol	Expiration date 364 days
intercom-device-id-iojaybix	Expiration date 270 days
__cfruid
_cfuvid

Cookie name	Description
_gid	Expiration date 1 day
_gat_UA-98728395-1	Expiration date 1 hour
_gat_UA-121192761-1	Expiration date 1 hour
_gcl_au	Expiration date 89 days
_ga_CBPL72L2EC	Expiration date 729 days
_ga	Expiration date 729 days
__hstc	Expiration date 179 days
__hssrc
_vwo_uuid_v2	Expiration date 365 days
_ga_TC79BEJ20L	Expiration date 729 days
_vwo_uuid	Expiration date 365 days
_vwo_ds	Expiration date 29 days
_vwo_sn	Expiration date 1 hour
_vis_opt_s	Expiration date 99 days
_vis_opt_test_cookie
af_id	Expiration date 394 days
afUserId	Expiration date 730 days
AF_SYNC	Expiration date 6 days
AnalyticsSyncHistory	Expiration date 29 days

Cookie name	Description
MUID	Expiration date 389 days
_omappvp	Expiration date 3998 days
_omappvs	Expiration date 1 hour
_uetsid	Expiration date 1 day
_uetvid	Expiration date 389 days
_fbp	Expiration date 89 days
fr	Expiration date 89 days
_ttp	Expiration date 89 days
_tt_enable_cookie	Expiration date 89 days
hubspotutk	Expiration date 179 days
IDE	Expiration date 389 days
YSC
VISITOR_INFO1_LIVE	Expiration date 179 days
li_sugr	Expiration date 89 days
guest_id_marketing	Expiration date 729 days
guest_id_ads	Expiration date 729 days
guest_id	Expiration date 729 days
muc_ads	Expiration date 729 days
VISITOR_PRIVACY_METADATA	Expiration date 179 days
MSPTC	Expiration date 389 days

Cookie name	Description
bcookie	Expiration date 364 days
lidc	Expiration date 1 day
UserMatchHistory	Expiration date 29 days
bscookie	Expiration date 364 days
li_gc	Expiration date 179 days
personalization_id	Expiration date 729 days