U.S. May Job Openings Unchanged at 7.59M, Beat Expectations; Gold Holds Above $4,039

According to the U.S. Labor Department's May Job Openings and Labor Turnover Survey (JOLTS), job openings remained unchanged at 7.59 million, beating economists' forecast of 7.29 million. Spot gold last traded at $4,039.50 an ounce, up 0.60% on the day, as the market remained cautious.

The resilient labor market data supports the Federal Reserve's tightening bias, with officials signaling a potential rate hike by year-end to combat rising inflation. Analysts noted this is negative for gold, as higher interest rates increase the opportunity cost of holding the non-yield-bearing asset.