Gold hits highest level since late June as Iran-US tensions ease and US jobs data weakens

Global gold prices rose 3.82 percent from the previous day to 4,233.70 dollars an ounce on Wednesday, August 5, 2026 (14 Mordad 1405), the highest level since June 18 (28 Khordad), according to a data provider. US President Donald Trump said on Tuesday, August 4 that the United States and Iran had held "very good discussions," raising hopes for an end to their five month conflict. The prospect of restored Middle Eastern energy exports pushed oil prices down about 10 percent this week, easing inflation concerns.

A report from ADP showed the US private sector added just 44,000 jobs in July, the weakest reading since January and well below forecasts of 70,000. Traders now price a 57 percent chance of a September Federal Reserve rate hike, down from 67 percent a day earlier. Ecoiran reported that silver climbed to around 62 dollars an ounce, the dollar index weakened against the euro, and copper traded near its historic high.