finance
Spot Gold Rises 1.4% After June Jobs Data Misses Forecasts
Spot gold climbed 1.4% to $4,182.28 an ounce on Friday morning. Other precious metals also advanced following weaker-than-expected U.S. nonfarm payrolls.
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Spot gold rose 1.4% on Friday morning to $4,182.28 an ounce, putting the metal on track for a 2.3% weekly gain that would mark its first weekly advance since late May, cnbc.com reported. Gold futures gained 1.5% on an intraday basis. The move followed U.S.
Nonfarm payrolls data released Thursday that showed the economy added 57,000 jobs in June. That figure fell short of the 115,000 Dow Jones consensus forecast and came after a downward revision to 129,000 jobs added in May. Markets responded by pricing in a 53.5% chance of a Federal Reserve interest-rate increase of at least 25 basis points in September, according to the CME FedWatch tool on Friday.
The probability had stood at 65% before the jobs report. Spot silver jumped 2.9% to $62.77 an ounce and was on pace for a 6.7% weekly gain. Silver futures for August delivery rose 3.5%. Spot platinum increased 2.8% to $1,660.10, while palladium rose about 1% to $1,280.09.
Gold posted its weakest quarter in 13 years in the three months ending June and trades roughly 22% below its January all-time high above $5,300. The metal gained 66% in 2025 but has fallen 3% so far in 2026. Silver rose 135% last year and has declined 12% year to date in 2026.
