US May nonfarm payrolls posted robust gains, reviving concern about possible Fed rate hikes later this year and sending spot gold down more than 3% intraday. Capital Economics economist Stephen Brown said: 'Unless the labour market experiences a large-scale summer job-loss panic, the likelihood of the Fed implementing several rate hikes later in the year grows.' Stalled US‑Iran talks and renewed fighting in the Middle East have pushed oil higher and elevated inflation worries, reinforcing market

US May nonfarm payrolls posted robust gains, reviving concern about possible Fed rate hikes later this year and sending spot gold down more than 3% intraday. Capital Economics economist Stephen Brown said: 'Unless the labour market experiences a large-scale summer job-loss panic, the likelihood of the Fed implementing several rate hikes later in the year grows.' Stalled US‑Iran talks and renewed fighting in the Middle East have pushed oil higher and elevated inflation worries, reinforcing market expectations that rates may remain higher for longer.