Gold Price Falls Below $4,100 as Oil Rebounds and Jobs Beat Forecasts

Gold price falls below 4,100 dollars an ounce on Friday, November 6, 2026, giving back part of the gain it made on Thursday. Reuters reported spot gold down 1.1 percent to around 4,044.09 dollars at 05:01 UTC, while December US gold futures slipped to around 4,053.30 dollars. The drop came as oil prices rebounded and a strong US jobs report landed in the morning. The jobs report showed 165,000 jobs added in October, far above the roughly 60,000 that had been expected, and that cooled talk of faster interest rate cuts. Gold had traded higher early in the day, but the slide took hold as the new data changed the mood.

Prices move through the day, so figures here carry the time they were reported. On Friday, gold started near its Thursday close, pushed higher in early trade, then fell back below the 4,100 dollar mark as oil rose and the jobs numbers came in strong.

Quick Facts

How Gold Price Falls Below $4,100 on Friday

Friday started with gold still looking strong. Early in the day, spot gold traded as high as about 4,123.39 dollars, up about 1.57 percent. Then the tone changed. By around 10 a.m., spot gold had slid to about 4,051 dollars, and a midday snapshot from Finnhub showed it at around 4,052 dollars, down about 0.9 percent on the day. The Reuters reading at 05:01 UTC put spot gold at around 4,044.09 dollars, down 1.1 percent, with December US gold futures at around 4,053.30 dollars. Each reading told the same story: gold had given up the 4,100 dollar level.

The fall matters because 4,100 dollars is a round number that traders watch closely. Gold had pushed above it on Thursday, and holding above it would have suggested that buyers were still in control. This article makes no call on where the price goes next. Thursday had been helped by a weaker dollar and falling yields. Friday brought rising oil and a strong jobs report instead. In the midday snapshot, the high was around 4,107.09 dollars and the low was around 4,032.92 dollars, a swing of roughly 74 dollars, which is wide for a single session.

Thursday Rally Set the Stage for the Pullback

To understand Friday fall, it helps to look at what happened on Thursday, November 5. Gold reached around 4,146.63 dollars during the day, its highest level since October 20, before closing at around 4,088.28 dollars. That close was up 0.69 percent from the previous close of around 4,060.36 dollars. Gold ended Thursday higher, but well below its best level of the day.

Two forces supported gold on Thursday. The first was a weaker US dollar, which fell to its lowest level since September 30. A weaker dollar can lift demand, since gold becomes cheaper for buyers in other currencies. The second was a fall in Treasury yields. The 10-year yield dropped from 4.90 percent on November 4 to 4.84 percent on November 5. Lower yields make gold more attractive, since gold pays no interest. Gold ended Thursday at around 4,088.28 dollars, already below the 4,100 dollar mark, so Friday slide continued softening that began late on Thursday.

Why the Oil Rebound Weighed on Gold

Oil was the first of the two big drivers on Friday. January Brent crude rose 1.31 percent to around 99.58 dollars a barrel at 05:04 UTC, and US West Texas Intermediate crude rose from around 90.52 dollars to around 91.38 dollars a barrel. A rebound in oil matters for gold because it revives concerns about inflation and about the Federal Reserve interest rate outlook. Rising oil can feed into fuel and transport costs, and into the broader cost of living. If inflation looks stickier, the Federal Reserve may cut rates more slowly, and that tends to weigh on gold.

The link between rates and gold is worth stating plainly. Gold pays no interest, so high rates, or expectations that rates stay high, make holding it feel more costly. When rate cut hopes rise, that cost falls, and gold often finds support. When rate cut hopes cool, the opposite can happen. That is the chain that ran through Friday: oil rose, inflation worries came back into focus, hopes of faster rate cuts cooled, and gold slipped. Oil set the tone early, since the rebound arrived before the jobs report landed.

Jobs Report Came In Far Stronger Than Expected

The second big driver on Friday was the US October jobs report, released at 8:30 a.m. ET. It showed 165,000 jobs added in October, far above the roughly 60,000 that had been expected. The unemployment rate stood at 4.1 percent. Hiring was nearly three times the expected number, and unemployment stayed low. For gold, a strong jobs report can be a headwind, because it suggests the economy is still running hot, and that can cool expectations of faster rate cuts from the Federal Reserve.

It is worth pausing on why a good jobs number can be bad news for gold, because it can sound backwards at first. Strong hiring is good news for workers, and not a sign of trouble in itself. But a hot labor market gives the central bank less reason to hurry with rate cuts. If cuts come later or more slowly than traders had hoped, the appeal of holding gold can fade a little, and some buyers may step back. The report landed at 8:30 a.m. ET, when traders were already watching the oil rebound and the early slide in gold, and by around 10 a.m. spot gold was at about 4,051 dollars.

Gold in India Fell on Dhanteras

The fall in gold was not limited to the US market. In India, November 6 is Dhanteras, a day when many people buy gold, so the price move there drew close attention. MCX gold futures fell 2,439 rupees to around 1,41,656 rupees per 10 grams in early trade, and Delhi 24-karat gold was about 1,42,390 rupees per 10 grams. The direction was the same as in the dollar market: down, and down by a clear amount in early trade. The Friday fall was a global move, and it reached one of the largest gold markets in the world on one of its busiest buying days.

What to Watch Next

With gold now below 4,100 dollars, the next question is what the coming data will show, and the clearest date on the calendar is next Tuesday, when the October CPI report is due. It will feed straight into the same debate about inflation and the Federal Reserve that shaped Friday. A CPI reading that comes in hot could keep rate cut hopes cool, while a soft reading could bring them back. No single report settles the rate question on its own, but traders will watch it closely.

It also helps to keep Friday move in a longer frame. Gold all-time high was 5,405 dollars in January 2026, and current prices sit about 25 percent below that high. It does not mean the price must rise again, and it does not mean it must fall further. Watch the price with its time attached, and watch the CPI report on Tuesday, how oil trades, and how the dollar and Treasury yields move.

Frequently Asked Questions

How far did gold fall on Friday, November 6, 2026?

Reuters reported spot gold down 1.1 percent to around 4,044.09 dollars per troy ounce at 05:01 UTC, and December US gold futures down to around 4,053.30 dollars. A midday snapshot from Finnhub showed spot gold at around 4,052 dollars, down about 0.9 percent on the day, with a previous close of around 4,088.28 dollars.

Why did gold fall below 4,100 dollars?

Two drivers were reported. Oil rebounded, with January Brent crude up 1.31 percent to around 99.58 dollars a barrel, which revived concerns about inflation and the Federal Reserve interest rate outlook. Then the US October jobs report showed 165,000 jobs added, far above the roughly 60,000 expected, with unemployment at 4.1 percent. Strong jobs data can cool expectations of faster rate cuts, and that tends to pressure gold.

What happened to gold on Thursday, November 5?

Gold reached around 4,146.63 dollars during the day, its highest level since October 20, then closed at around 4,088.28 dollars, up 0.69 percent from around 4,060.36 dollars at the previous close. A weaker dollar and falling Treasury yields supported the metal. The 10-year yield fell from 4.90 percent on November 4 to 4.84 percent on November 5.

How far is gold below its all-time high?

Gold all-time high was 5,405 dollars in January 2026, and current prices sit about 25 percent below that high. The next big data point is the October CPI report, due next Tuesday.

Sources

Investozora: Gold Price Today November 6, 2026

GoldPrice.com: Gold Price Today

Stockbiz: Market on November 6, Oil Rebounds, Gold Tops USD 4100 Ounce, Agricultural Commodities Diverge

For the crypto side of the rout, read our report on Bitcoin falling below 76,000 dollars as Ethereum drops and crypto liquidations pile up, and for the rebound in technology shares, see chip stocks rebounding in premarket trading on November 6. Thursday selloff is covered in our report on the Nasdaq correction and the Dow plunging 1,833 points on November 5.

Final Thoughts

Gold fell below 4,100 dollars on Friday, November 6, 2026, after a strong Thursday and a bright start to the day. The metal reached about 4,123.39 dollars in early trade, then slid to about 4,051 dollars by around 10 a.m., with Reuters reporting spot gold at around 4,044.09 dollars at 05:01 UTC. The drivers were clear and they pointed the same way: oil rebounded, and a jobs report that showed 165,000 jobs added, far above the roughly 60,000 expected, cooled hopes of faster rate cuts. Friday took gold below the round 4,100 dollar mark.

The bigger picture is still open. Gold sits about 25 percent below its January high of 5,405 dollars, and the next test is the October CPI report due next Tuesday. For now, the story is simple: a strong jobs report and rising oil took the shine off a Thursday rally, and gold ended the morning below 4,100 dollars.