Gold hits 2026 low after May jobs beat; Goldman, JPMorgan, Deutsche Bank, UBS keep targets

Gold fell 3.27% to $4,339, its lowest level of 2026, after the US added 172,000 jobs in May versus forecasts for 85,000. According to BeInCrypto, the data lifted the dollar and pushed bond markets to price a 68% chance of a Fed rate hike by December, wiping out gold’s gains for the year in one session. Cleveland Fed President Beth Hammack said the central bank may need to act soon to bring inflation back to 2%. Goldman Sachs kept a $5,400 year-end target; JPMorgan $6,000-$6,300; Deutsche Bank $6,000; UBS $5,900.