Gold Price Shows Mixed Movement Ahead of US Employment Data

Market Fluctuations Observed

Gold prices demonstrated mixed behavior on Friday (9/1/2026) as market participants awaited the release of critical US employment data. In morning trade, gold prices rose to US$4,473.30 per troy ounce for February 2026 delivery, representing a 0.28% increase from the previous day's closing price of US$4,460.70 per troy ounce ¹

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However, the gains were later reversed as spot gold dropped 0.4% to US$4,458.10 per troy ounce at 01:26 GMT, influenced by dollar strengthening and commodity index adjustments ²

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Market Factors at Play

The fluctuation in gold prices reflects market caution as investors anticipate the release of US non-farm payrolls data, which is expected to provide insights into future monetary policy directions. The price movement was also influenced by profit-taking activities following gold's recent record high of US$4,549.71 per troy ounce on December 26 ³

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Technical and Market Outlook

Despite the recent pullback, gold futures for February 2026 delivery showed some resilience, rising 0.4% to US$4,477.7 per troy ounce ³

. Analysts noted that while gold has experienced some profit-taking in recent days, the primary driver currently is the strengthening US dollar in anticipation of the employment data.