Gold on track for weekly rise amid AI jitters; U.S. jobs report ahead

Investing.com · Scott Kanowsky · 2026-11-06 01:33 UTC

Gold on track for weekly rise amid AI jitters; U.S. jobs report ahead

Investing.com - Gold prices were on track for a weekly rise of more than 4% as investors assessed the appeal of the yellow metal after a deep stock-market rout sparked some selling of bullion to reduce exposure in the prior session. Get InvestingPro at 55% off this Black Friday and stay ahead of market moves

By 06:20 ET (11:20 GMT), spot gold had fallen by 0.6% to $4,066.42 an ounce. The selloff in U.S. equities appeared to be set to pause on Friday thanks in part to an uptick in chip stocks, which tumbled on Thursday on fears that a Democratic-controlled Congress could ratchet up regulation on the artificial intelligence industry. A firmer dollar also took some shine off gold because bullion is priced in the greenback.

Copper edged down as well, after the AI-fueled stock freefall dragged Comex copper down to its lowest level since July.

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