Gold climbs toward $4,300 an ounce as markets await US jobs report
Aug 7, 2026
Gold prices rose on Friday, 16 Mordad 1405 (7 August 2026). According to Khabaronline, citing Reuters, spot gold gained 0.6 percent to reach 4,262 dollars and 39 cents an ounce, while US gold futures rose 0.5 percent to 4,321 dollars and 50 cents; the metal had already touched a seven week high on Thursday. Trading Economics separately put the gold price at around 4,297 dollars on Friday, up 1.35 percent, and Sahmino's own price feed showed the ounce at 4,286 dollars, up about 1 percent, as of 11:27 Tehran time; the gap between the readings reflects the different moments each source captured during the trading day.
Matt Simpson, senior analyst at StoneX, said hopes for calm in West Asia have eased inflation expectations and allowed gold to rise again after weeks of consolidation above 4,000 dollars. According to Reuters, the CME FedWatch tool put the odds of a US rate hike at the September meeting at 55 percent, down from 63 percent a week earlier. Trading Economics, citing the Financial Times, also reported that Fed Chair Kevin Warsh would be open to raising rates in September if inflation readings stay elevated in the coming weeks; that report has not yet been confirmed by a second source. Among other precious metals, silver rose 1.3 percent to 62 dollars and 27 cents, and platinum gained 0.5 percent to 1,737 dollars.
Source
Khabar Online, citing Reuters
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