Gold Falls After Strong August Payrolls Lift Yields, Harden Fed Hike Bets

Gold futures fell on September 6, 2026, after U.S. August payrolls topped expectations, pushing short-term Treasury yields higher and reinforcing expectations of a Federal Reserve rate hike as early as the next FOMC meeting. Higher yields make non-yielding gold less attractive, and a stronger dollar compounds the pressure. Markets had already priced a 75% chance of a September hike as of July 28.