Gold Drops After Strong August Jobs Data Lifts Yields, Tightens Fed Hike Odds

Gold futures fell September 6, 2026, after August payrolls beat expectations, lifting short-term Treasury yields and hardening bets on a Fed rate hike at the next FOMC meeting. Higher yields make non-yielding gold less attractive; a stronger dollar adds pressure. Markets had already priced a 75% chance of a September hike as of July 28.