US Nonfarm Payrolls Disappoint, Boosting Precious Metals; Gold Rebounds to $4,100, Silver Above $60

Published: Jul 3, 2026 09:16

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[SMM Precious Metal Express] On July 2, US June nonfarm payrolls increased by 57,000, far below the expected 113,000, with a combined downward revision of 74,000 for April-May. The unemployment rate fell to 4.2%, the lowest since June 2025. Traders scaled back rate hike bets after the data, with short-term rates showing traders fully pricing in a Fed rate hike in December, versus October previously. The dollar index fell to a two-week low, triggering a strong rebound in precious metals. Gold returned to the $4,100 level, and silver returned to above $60.

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