The U.S. Nonfarm Payrolls (NFP) report could trigger significant market volatility at 20:30 UTC+7 on November 6, 2026 (13:30 UTC).
What the market cares about is not just the number of new jobs created, but also how the data could affect expectations for Fed interest rates, the U.S. dollar, and Treasury yields.
How Does NFP Impact Gold, Silver, and Oil?
Gold: Could find support if the labor market weakens and wage growth cools.
Silver: Could have an opportunity to outperform gold as the USD weakens, but it remains influenced by industrial demand.
Oil: Could come under pressure if weak employment data raises concerns about economic growth.
3 key indicators to watch
NFP – Number of new jobs created.
Unemployment Rate – The percentage of the labor force that is unemployed.
Average Hourly Earnings – Wage growth.
I will wait for the USD and Treasury yields to react after the release before assessing the next market direction.
Caution: I lean toward a scenario where gold finds support if the data continues to weaken. However, a lower NFP figure does not automatically mean gold will rise. If the market interprets it as a sign of recession, silver and oil could also come under pressure.
