Gold Prices Remain Volatile Amid Weak US Jobs Data and Inflation Concerns

Gold prices on October 6, 2026, remained volatile and near low levels, disappointing bullish speculators and increasing selling pressure. Domestic gold prices in Vietnam showed minimal changes compared to the previous week, with SJC gold bars trading between 140.5 and 143.5 million VND per ounce. Some brands, like Bao Tin Minh Chau, saw slight adjustments in buying and selling prices, while others, such as Phu Quy and PNJ, remained unchanged.

Globally, gold prices hovered below the $4,200 mark after failing to sustain gains from the previous week. Weak US employment data, showing only 29,000 new jobs in September, contributed to the decline. Experts noted that persistent inflationary pressure and high bond yields continue to hinder gold's recovery. The US Bureau of Labor Statistics report also indicated an unemployment rate rise to 4.2% and a minimal increase in average wages.

Simon-Peter Massabni, Director of Business Development at XS.com, commented that the market is stuck between a weakening economy and high bond yields. Despite the slowdown in employment data, the Federal Reserve remains focused on inflation, which could influence interest rate decisions. Bill Adams, chief US economist at Fifth Third Commercial Bank, emphasized that upcoming economic data, such as September CPI and PPI figures, will play a crucial role in the Fed's decision-making.

Experts are divided on the outlook for gold prices this week. Marc Chandler of Bannockburn Global Forex forecasts a rise, citing potential caution from the Fed on interest rate hikes. In contrast, Adrian Day of Adrian Day Asset Management predicts a short-term correction and a downward trend. Sean Lusk of Walsh Trading holds a neutral to bullish view, suggesting seasonal factors could support a price recovery to $4,400-$4,500 per ounce.