Global Gold Falls to $4,126 as Weak September US Jobs Report Cuts Fed Rate Hike Odds

According to a US Bureau of Labor Statistics report released Friday, October 2, 2026, the US economy added just 29,000 jobs in September, well below forecasts of 90,000 and following a downwardly revised gain of 133,000 in August. The unemployment rate rose to 4.2 percent, while annual wage growth slowed to 3.0 percent, its weakest level since May 2021. The soft data reduced the odds of a Federal Reserve rate hike at its October meeting: money markets are now pricing in a near 20 percent chance of a hike this month, while the probability of a December hike remains above 80 percent. Global gold, reacting to the report, traded at 4,126.43 dollars an ounce on Friday, down 1.23 percent from the previous day, though still up 6.17 percent from a year earlier.