Bullish
Gold rebounds above $4,100 as weak U.S. jobs data reduces Fed rate-hike expectations.
In the past 24 hours, gold prices have risen above $4,100, driven by weaker-than-expected U.S. employment data that has cooled Federal Reserve rate-hike expectations. This development has bolstered gold's appeal as a safe-haven asset.
Key points
- Spot gold prices surged over 2% to trade near $4,123.80 an ounce, following a soft June employment report that reshaped trader expectations for the Federal Reserve's next move.
- Gold rebounded toward $4,100, gaining around 1.3% on the session, as a soft June payrolls report revived the safe-haven bid and pulled the metal off an eight-month low.
- Despite the recent gains, the market remains cautious, with traders awaiting the upcoming nonfarm payrolls report for further insights into the Federal Reserve's policy direction.
- The market is closely monitoring the upcoming nonfarm payrolls report for further insights into the Federal Reserve's policy direction.
Sources
- Gold and silver rally as NFP miss dents Fed-hike bets - Kitco AM ReportKitco News · July 2, 2026
- Gold XAUUSD Defends $4,000 and Snaps Back as the Rate Outlook SoftensTradingNews · July 2, 2026
- Gold prices rise on weak US employment data and lower oil prices; focus is on nonfarm payrollsEnergy News · July 2, 2026
AI-generated from public news sources. Not financial advice.
