Spot gold fell roughly 3% to a two-month low after strong US May jobs data boosted Fed rate-hike bets, with potential spillover into Bitcoin and crypto

Spot gold dropped over 3% to $4,336 per ounce on June 5 after strong US jobs data boosted rate expectations, extending weekly losses to roughly 4.3%.

Gold prices fell 3.6% after 172,000 US jobs were added in May, doubling forecasts and pushing Fed rate hike expectations past 68% by December 2026.