The U.S. non-farm payroll data for September unexpectedly "bumped off the charts" and recorded the largest increase since the beginning of this year, indicating that the labor market is strong and may support the Federal Reserve to raise interest rates again.

Data released on Friday showed that the U.S. non-farm payrolls increased by 336,000 in September after seasonally adjustment, far exceeding expectations of 170,000 and marking the largest increase since January 2023. The unemployment rate in September was 3.8%, slightly higher than the expected 3.7% and unchanged from the previous month.

After the data was released, spot gold fell by $9 in the short term, the U.S. dollar index shot up 35 points in the short term, and the three major U.S. stock index futures fell rapidly after the release of non-farm payrolls data. Non-U.S. currencies generally fell, with the euro falling more than 40 points against the U.S. dollar in the short term; the pound falling 60 points against the U.S. dollar in the short term; and the U.S. dollar rising nearly 40 points against the Japanese yen in the short term.

COMEX's most active gold futures contract saw 5,351 lots traded in one minute at 20:30 Beijing time on October 6, with a total contract value of US$971 million;

COMEX's most active gold futures contract saw 2,806 lots traded within one minute at 20:31 Beijing time on October 6, with a total contract value of US$509 million;

COMEX's most active gold futures contract saw 2,028 lots traded within one minute at 20:34 Beijing time on October 6, with a total contract value of US$367 million.

Richard Flynn, managing director of Charles Schwab UK, said investors will interpret today's jobs report as a sign of healthy demand in the labor market. He said:

"Employment growth has been a key driver of economic resilience of late, balancing weakness in areas such as housing and consumer goods, and today's strong data should help allay fears of a recession and bring optimism to sectors of the economy that may be heading toward stabilization. mood."

For the Fed, however, strength in the labor market is likely to keep inflation under pressure. The government data, along with other recent gains in job creation, could prompt officials to favor another rate hike before the end of the year.