Spot gold falls below $4,400 an ounce, silver drops 4% intraday
The move followed the first nonfarm payrolls data of the "Walsh era," with payroll growth reported far above expectations.
Fact Check
The claim is well-supported across multiple independent sources. The original Chinese-language flash from BlockBeats reports the exact figures (gold below $4,400, silver -4% intraday to $70.90), PANews confirms the gold price independently, and Reuters/Detroit News confirm both the strong May 2026 NFP (172,000 jobs, double expectations) and that this was the first report of Warsh's tenure as Fed Chair.
Summary
Spot gold fell below $4,400 per ounce on June 5, down 1.69% on the day, while spot silver slumped 4.00% intraday to $70.90 per ounce, according to Bitget market data cited by BlockBeats. The declines came after the first nonfarm payrolls report of the "Walsh era" showed nonfarm employment rising well above expectations, a result that can weigh on precious metals by strengthening the outlook for the economy and interest rates.
Terms & Concepts
- nonfarm payrolls: U.S. employment data excluding farm jobs
- spot gold: Gold priced for immediate delivery
- spot silver: Silver priced for immediate delivery