US Economy Shed 23,000 Jobs in July; Gold Jumps 2.7% to $4,355, Silver Up 4.25% (Friday, August 7, 2026)

The US jobs report for July showed the economy lost 23,000 jobs, against forecasts of roughly 80,000 to 83,000 new jobs; the unemployment rate unexpectedly fell from 4.2% to 4.1%, but only as labor force participation dropped to its lowest since 2021. In reaction, spot gold jumped about 2.7% to $4,355.04 on Friday, August 7, 2026, and silver rose 4.25% to the $64.20 area.