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FinanceGold Jumps 2.8% After Weak US Jobs Data Eases Fed Rate Hike Fears
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Gold prices surged 2.8% on Friday, extending a two-day recovery from their lowest level in almost seven months, following the release of weaker-than-expected US job numbers. The soft labor market data reduced expectations for further Federal Reserve interest rate hikes, making gold more attractive to investors. According to the CME FedWatch tool, traders now see a nearly 51% chance of a rate hike by September, down from 66% before the jobs data release. The rebound marks a significant shift in sentiment for the precious metal, which had been under pressure from aggressive monetary policy tightening. The article was published by The Business Times in Singapore on July 3, 2026, and cites Reuters as a source for the market data.
Source report
Bullion jumps 2.8%, extending a two-day recovery from its lowest level in almost seven months
Published: Fri, Jul 3, 2026 · 08:50 AM
LONDON / BENGALURU — Gold prices surged on Friday after weaker-than-expected US jobs data tempered expectations of further interest rate hikes by the Federal Reserve.
- Spot gold rose 2.8%, building on a two-day rebound from its lowest level in nearly seven months.
- According to the CME FedWatch tool, traders now see a nearly 51% chance of a rate hike by September, down from 66% before the jobs data release.
The softer labour market figures eased concerns over aggressive monetary tightening, boosting demand for the non-yielding asset.
(Photo: REUTERS)
Source
The Business TimesNeutral / independent
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Gold Surges on Easing Fed Rate Hike Expectations After Weak US Jobs Data