Gold macro brief, Oct 2, 2026 – September payrolls just +29,000, unemployment 4.2%

September payrolls just +29,000, unemployment 4.2%

BLS, Oct 2: nonfarm payrolls rose 29,000 (forecast 84,000), unemployment rose to 4.2% (from 4.1%), and July–August were revised down a combined 60,000. Markets heavily priced a Fed hold at the late-October meeting.

Gold impact: Weak labor data lowers the odds of further Fed hikes and weighs on the dollar – usually supportive for gold near term.

🔗 Source: CNBC – Jobs report September 2026