Gold Plunges Below $4,400 After Stronger-Than-Expected US Jobs Data

Gold fell below the key $4,400 support level to trade near $4,450 on June 5 after US May nonfarm payrolls surged to +312,000, well above the 185,000 consensus. This followed a sharp rebound on June 4 when weaker jobless claims of 225,000 lifted spot gold to a $4,515 high and Comex settled 0.88% higher at $4,475.80. The strong print boosted the dollar and yields, scaling back rate-cut odds and pressuring prices lower despite earlier safe-haven flows.