---
title: "ETF Volatility | FL2CSOPGOLD drops over 6% as strong U.S. May non-farm data doubles Goldman Sachs' probability of Fed rate hike to 20%"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/288989782.md"
description: "Affected by the strong U.S. non-farm payroll data in May and Goldman Sachs raising the probability of a Federal Reserve interest rate hike to 20%, the U.S. dollar strengthened and U.S. Treasury yields surged, suppressing gold prices. FL2CSOPGOLD fell over 6%, closing at HKD 24.16"
datetime: "2026-06-08T02:19:04.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/288989782.md)
  - [en](https://longbridge.com/en/news/288989782.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/288989782.md)
---

# ETF Volatility | FL2CSOPGOLD drops over 6% as strong U.S. May non-farm data doubles Goldman Sachs' probability of Fed rate hike to 20%

According to Zhitong Finance APP, FL2CSOPGOLD (07299) fell over 6%, down 6.21% as of the time of writing, priced at HKD 24.16, with a transaction volume of HKD 44.4239 million.

On the news front, on June 5 local time, the U.S. non-farm payroll report for May was released. The data showed that with the non-farm employment figures for March and April revised up by a total of 93,000, the U.S. added 172,000 non-farm jobs in May, far exceeding the market expectation of 88,000, marking the strongest job growth in over two years for the past three months. Meanwhile, the unemployment rate remained steady at 4.3%. Driven by rising expectations for interest rate hikes, the U.S. dollar strengthened significantly, with the Dollar Index (DXY) stabilizing above the 100 mark during trading. At the same time, U.S. Treasury yields surged across the board, becoming a significant bearish factor suppressing gold prices.

Goldman Sachs' latest research report pointed out that U.S. economic activity and labor market data have been stronger than expected in recent months, particularly with a remarkable rebound in job growth. Under the triple catalysts of tariffs, high oil prices caused by war, and AI demand, core PCE inflation is expected to remain above 3% in 2026, with no urgency for the Federal Reserve to cut interest rates in the short term. Moreover, Goldman Sachs has doubled the probability of a Federal Reserve rate hike to 20%. This means that the market must recalibrate its bets on the easing path, and funds betting on rate cuts in the short term will face severe tests

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