Gold jumps almost 4% to around $4,240 an ounce, its highest since 18 June

Global gold posted one of its largest single day gains in months on Wednesday 5 August 2026. Kitco data at 12:26 New York time put the bid for an ounce at $4,239.70, with a session range running from $4,064.80 to $4,266.10. A data provider recorded the same day at $4,233.70, up 3.82%, and described it as the highest level since 18 June 2026.

Futures confirmed the same direction. CNBC data showed the COMEX December gold contract trading at $4,293.30 on Wednesday afternoon, up 3.39%, after a session high of $4,325.50, against the previous close of $4,152.60.

Silver moved even more sharply, bid at $61.92 an ounce on Kitco at the same time, with the same provider putting its daily gain at 4.04%. The same provider attributed the move to easing geopolitical tensions and softer US labour market data: the ADP private sector employment report showed just 44,000 jobs added in July, the weakest reading since January and below forecasts of 70,000. Global gold is the main external anchor for domestic gold and coin prices in Iran.