Gold holds near 2-week high after weaker US jobs report
Gold is holding close to a two-week high this Monday, July 6, 2026, after weaker US jobs data made a Fed rate hike in September less likely.
The latest employment report showed slower job growth and downward revisions for previous months, signaling the US job market is cooling off.
Because of this, the chance of a September rate hike dropped from more than 60% to 55%, according to CME FedWatch.
Spot gold steadies at $4,175.02
Spot gold stayed steady at $4,175.02 per ounce early Monday, locking in a solid weekly gain after losing ground for four straight weeks.
US gold futures also climbed 1.5%. Since gold doesn't pay interest, it usually does better when rates might stay lower.
In India, demand dipped a bit as prices bounced back from recent lows; meanwhile in China, more buyers stepped in.
Investors are now watching for the Fed's June meeting minutes coming out Wednesday; they are hoping for clues on what's next for interest rates.
Silver hit a multi-session high, and platinum and palladium also saw gains.