09:19 AM EDT, 06/05/2026 (MT Newswires) -- Gold traded lower early on Friday as the dollar and yields climbed as the United States reported an unexpected jump in May employment.

Gold for July delivery was last seen down US$28.50 to US$4.476.50 per ounce.

The U.S. Bureau of Labor Statistics reported the country added 172,000 jobs in May, up from 115,000 a month earlier and well ahead of expectations for a rise of 80,000 new positions according to Marketwatch. The unemployment rate held steady at 4.3%.

Gold has been pressured by the rising oil prices that have followed the U.S. war on Iran, with buyers concerned central banks will need to raise interest rates to combat rising energy inflation. Traders have turned away from gold as a store of value amid the inflation worries, preferring the dollar as a hedge should central banks raise interest rates to slow rising prices.

The dollar rose off overnight lows following the data, with the ICE dollar index last seen up 0.1 points to 99.51 after earlier touching 99.16. Treasury yields were sharply higher, with the yield on the U.S. two-year note last seen up 10.2 basis points to 4.151%, while the 10-year note was paying 4.539%, up 5.8 points.