Gold Back Above USD 4,100 as Inflation Test Looms After US Jobs Surprise

Aditi Sarkar

09 November 2026 05:05 PM AEDT

Gold Back Above USD 4,100 as Inflation Test Looms After US Jobs Surprise

Image Source: Shutterstock

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Highlights

Gold spot prices rose 0.8% to USD 4,104.30 an ounce on 9 November 2026.
US gold futures advanced 0.9% to USD 4,112.40 as bullion recovered from Friday’s decline.
US employers added 165,000 jobs in October, renewing expectations of tighter Federal Reserve policy.
The US Dollar Index fell 0.1% to 102.22 during the reported trading window.
Traders turned toward Tuesday’s US Consumer Price Index report for fresh Inflation signals.
The 9 November TradingView monthly chart displayed 4,124.180 and a change of +248.990 (+6.43%).

Gold returned above USD 4,100 an ounce on Monday, 9 November 2026, as traders reassessed a surprisingly resilient US labour market and looked ahead to a fresh inflation reading. The rebound followed a Friday retreat triggered by stronger hiring figures, while movements in the dollar, Treasury yields and oil prices added further context to the precious metal’s uneven recent performance.

A Rebound After Friday’s Jobs Surprise

Spot gold rose 0.8% to USD 4,104.30 an ounce at 20:02 ET (01:02 GMT), while US gold futures gained 0.9% to USD 4,112.40. The gains followed Friday’s 0.4% decline, when bullion traded near USD 4,070 after the release of October employment figures.

US employers added 165,000 jobs during October, exceeding every forecast in the supplied report, while the Unemployment rate edged lower. Early November consumer sentiment also reached a three-month high. Together, these readings reinforced attention on the Federal Reserve’s next policy decision and the possibility of additional rate increases to address inflation.

The Dollar, Oil and Politics Shape the Backdrop

The US Dollar Index slipped 0.1% to 102.22 in the reported session. Gold had earlier climbed back above USD 4,000 following the US midterm elections, alongside a decline in Treasury yields and Crude Oil prices.

Those market moves came as investors considered whether the incoming Democratic majority in Congress would pressure the administration to end the conflict with Iran. Expectations that divided government could limit additional spending and borrowing also helped ease concerns about the US fiscal outlook.

Nonetheless, the latest recovery followed a prolonged period of disruption. The supplied update placed gold around 20% below its level before the US–Iran conflict began in late February, illustrating the distance between the recent bounce and earlier price levels.

Gold’s Broader Price Journey

The monthly TradingView chart dated 9 November 2026 presents a longer view of the swings behind the latest rebound. The displayed month opened at 3,874.300, reached 4,146.990, recorded a low of 3,874.300 and showed a latest value of 4,124.180. Its change was +248.990 (+6.43%). These are chart readings for the selected monthly candle, not the separate spot quote reported above.

Source: Trading View, 9 November 2026

Across the longer timeline, gold’s rise into 2026 was followed by pronounced price swings. The latest monthly advance provides a visual counterpart to the news-driven recovery, without establishing where prices will move next.

Inflation Report Becomes the Next Focus

Attention now turns to Tuesday’s US consumer price index release. Markets are evaluating the employment surprise against still-elevated energy costs and the possibility of a further Federal Reserve increase at its December meeting. Officials will receive another employment report and a full set of inflation data before that decision.

Silver also advanced 1.6% to USD 52.7890 an ounce, while platinum climbed 1.5% to USD 1,562.15, showing that Monday’s gains extended across several precious metals.

Technical Outlook: Gold

The chart’s latest monthly value of 4,124.180 stands above its opening value of 3,874.300. The supplied image does not show a 21-day SMA or 14-day RSI, so no moving-average or momentum reading is assigned.

Summary

Gold’s return above USD 4,100 comes amid competing influences from resilient US hiring, rate expectations, a softer dollar and changes in geopolitical sentiment. Tuesday’s inflation release is the next specified data point for traders assessing that backdrop.

FAQs

Q: What was gold’s reported spot price on Monday?

A: Spot gold rose 0.8% to USD 4,104.30 an ounce.

Q: Why did gold retreat on Friday?

A: Stronger-than-expected October US hiring data reinforced expectations of further Federal Reserve tightening.

Q: What economic release comes next?

A: The US consumer price index report is scheduled for Tuesday.

Q: What did the supplied monthly gold chart show?

A: The latest displayed value was 4,124.180, with a monthly change of +248.990 (+6.43%).

Q: Does the chart show SMA, RSI or support and resistance levels?

A: No. Those values are not provided in the supplied image.

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