How does gold react to the US unemployment rate?
In the first 30 minutes after the US unemployment rate, gold has typically moved 0.39% either way (the median of the last 21 releases, 1 Nov 2024 to 2 Oct 2026), and 0.83% after 4 hours. The first move held to the close on 14 of 20 releases. When it came in above the forecast, Gold split evenly in the first 30 minutes (up on 3, down on 3 of 6). When it came in below the forecast, Gold rose in the first 30 minutes on 4 of 6, median +0.34%. The largest first-30-minute move was −1.77% on 4 Sep 2026.
What the numbers say
The move has usually kept going after the first half hour: the typical 4-hour move (0.83%) is 2.1 times the first 30 minutes. The first reaction has been a fair guide here: it held to the close 70% of the time. Below forecast prints have moved it more than above ones (median +0.34% against 0.00%).
The last 12 releases
Each row is one US unemployment release: the figure against the forecast, then Gold over the first 30 minutes and the first 4 hours, then the whole release day (the close the day before to the close of the release day).
| Release | Actual vs forecast | First 30 min | First 4 hours | Release-day close |
|---|---|---|---|---|
| 2 Oct 2026 (Sep) | 4.2% vs 4.1% missed | +0.76% | −1.22% | −0.95% |
| 4 Sep 2026 (Aug) | 4.1% vs 4.1% in line | −1.77% | −0.87% | −1.39% |
| 7 Aug 2026 (Jul) | 4.1% vs 4.2% beat | +0.93% | +0.45% | +2.33% |
| 2 Jul 2026 (Jun) | 4.2% vs 4.3% beat | +1.31% | +1.58% | +1.06% |
| 5 Jun 2026 (May) | 4.3% vs 4.3% in line | −1.45% | −3.05% | −3.10% |
| 8 May 2026 (Apr) | 4.3% vs 4.3% in line | +0.12% | −0.23% | +0.42% |
| 6 Mar 2026 (Feb) | 4.4% vs 4.3% missed | +0.03% | +1.15% | +1.58% |
| 11 Feb 2026 (Jan) | 4.3% vs 4.4% beat | −0.38% | −0.17% | +1.34% |
| 9 Jan 2026 (Dec) | 4.4% vs 4.5% beat | +0.39% | +0.93% | +0.90% |
| 16 Dec 2025 (Nov) | 4.6% vs 4.4% missed | +0.46% | +0.21% | −0.07% |
| 20 Nov 2025 (Sep) | 4.4% vs 4.3% missed | −0.03% | −0.83% | −0.56% |
| 5 Sep 2025 (Aug) | 4.3% vs 4.3% in line | +0.84% | +1.05% | +1.29% |
Sources: Yahoo Finance 5-minute and hourly bars, the TradingView economic calendar (actual and forecast), Yahoo Finance daily bars for the release day. Gold is COMEX futures, US indices are CME futures.
How traders prepare for US unemployment
- US unemployment has landed at 8:30 New York on most of these releases. Every window on this page is measured from that minute.
- The 4 hours before the print drifted the same way as the move after it on 9 of 21 releases, so the drift in has said little about the move after.
- The typical first-hour range, high to low, has been 1.05%. A stop or a limit order closer than that to the price at the print has usually been reached by the release noise alone.
- Over the longer run, since 8 Jan 2016: on 40 releases above the forecast Gold closed the day higher 20 of 40 times; on 55 releases below the forecast Gold closed the day higher 29 of 55 times. That is the whole day, other news included.
- The prices are mid quotes from intraday bars, not a broker's fill: spreads widen around a release, so a real order can fill worse than these numbers.
The next release
The next scheduled US unemployment release is 6 Nov 2026 at 8:30 New York (13:30 UTC), on the public economic calendar. This page refreshes on its own once that release has been measured.
See this before every release, free
The free section's calendar Playbook shows this same history on every release before it prints: what Gold and the other main markets did on hotter and cooler figures, and the first hours after.
Open the free section →FAQ
How much does Gold move after US unemployment?
Over the last 21 releases the median first-30-minute move was 0.39% and the median 4-hour move was 0.83%. It rose in the first 30 minutes on 11 and fell on 10.
What does Gold do when US unemployment beats or misses the forecast?
When it came in above the forecast, Gold split evenly in the first 30 minutes (up on 3, down on 3 of 6). When it came in below the forecast, Gold rose in the first 30 minutes on 4 of 6, median +0.34%.
Does the first move after US unemployment hold?
On 14 of 20 releases the first 30 minutes and the close moved the same way.
When is the next US unemployment release?
6 Nov 2026 at 8:30 New York (13:30 UTC), on the public economic calendar.