Gold slips to $4,543 as payroll revisions expose labor market weakness

The preliminary benchmark adjustment for total nonfarm employment represents a 0.1% decrease, while private employment saw a steeper downward revision of 178,000 jobs. Despite the negative adjustment, the Bureau of Labor Statistics noted that the revision remains within the historical norm, as annual benchmark changes over the past decade have averaged 0.2% of total nonfarm employment.

Market participants reacted swiftly to the news, which coincided with Federal Reserve Chair Warsh’s address at the Jackson Hole economic symposium and the release of final consumer sentiment figures. Gold traded at $4,564.05 per ounce following the initial drop, marking a 0.83% decline for the session. Official estimates will integrate these final benchmark revisions in February 2027, alongside the January 2027 Employment Situation report.