Gold (XAU/USD) price collapses during the North American session on Friday as the latest Nonfarm Payrolls report in the US smashed forecasts, with figures for the last three months upwardly revised, increasing the chance of a Federal Reserve (Fed) rate hike.
Deutsche Bank analysts underscore that stronger Japanese wage data and resilient household spending are reinforcing expectations for Bank of Japan (BoJ) tightening. Real and nominal wages are rising at the fastest pace since 2024, with futures pricing a high probability of a June hike.
Danske Bank’s Danske Research Team notes that US economic growth slowed at the start of 2026 but has remained more resilient than expected despite the war in Iran.