Gold Eases as FOMC Minutes Eyed

2026-07-07 00:44 By Jam Kaimo Samonte 1 min. read

Gold eased below $4,150 an ounce on Tuesday, but held most of last week's gains as investors awaited the minutes of the Federal Reserve’s June meeting for fresh clues on the outlook for interest rates.

Data released last week showed US job growth slowed sharply in June, while payroll figures for the previous two months were revised lower, leading markets to scale back expectations of a near-term rate hike.

Traders are now pricing in roughly a 50% chance of a Fed rate increase in September, down from about two-thirds before the latest employment report.

The precious metal also drew support from lower oil prices as traffic through the key Strait of Hormuz continued to recover following the implementation of the interim US-Iran peace agreement.

Meanwhile, Middle Eastern producers ramped up output and cut prices in response to changing market conditions, while OPEC+ agreed to increase production quotas for next month.



News Stream
Gold Eases as FOMC Minutes Eyed
Gold eased below $4,150 an ounce on Tuesday, but held most of last week's gains as investors awaited the minutes of the Federal Reserve’s June meeting for fresh clues on the outlook for interest rates. Data released last week showed US job growth slowed sharply in June, while payroll figures for the previous two months were revised lower, leading markets to scale back expectations of a near-term rate hike. Traders are now pricing in roughly a 50% chance of a Fed rate increase in September, down from about two-thirds before the latest employment report. The precious metal also drew support from lower oil prices as traffic through the key Strait of Hormuz continued to recover following the implementation of the interim US-Iran peace agreement. Meanwhile, Middle Eastern producers ramped up output and cut prices in response to changing market conditions, while OPEC+ agreed to increase production quotas for next month.
2026-07-07
Gold Dips as Dollar Firms
Gold fell to $4,140 an ounce on Monday, retreating from two-week highs due to a stronger US dollar. However, losses were limited as signs of a cooling US labor market reduced expectations of a Federal Reserve rate hike. Last week’s data revealed a significant slowdown in US job growth in June, along with downward revisions for the previous two months, prompting markets to dial back near-term rate hike bets. Meanwhile, oil prices edged lower as recovering energy flows through the Strait of Hormuz and the prospect of increased OPEC+ supply raised concerns about a potential glut. Investors now await the Fed’s meeting minutes, due Wednesday, with markets pricing in over a 50% chance of a September rate hike. JPMorgan noted in a Friday report that demand from key sectors may not be as strong as previously expected, capping gold’s rise to $4,300 an ounce in Q3 and $4,500 in Q4.
2026-07-06
Gold Holds Gains as Rate Hike Fears Ease
Gold traded above $4,100 an ounce on Monday, holding onto most of last week’s gains as weaker-than-expected US jobs data and lower oil prices led traders to scale back expectations for Federal Reserve interest rate hikes. Oil prices edged lower as recovering energy flows through the Strait of Hormuz and the prospect of increased OPEC+ supply fueled concerns about a potential glut. That has helped ease inflationary pressures that had previously heightened fears of further rate hikes and weighed on non-yielding gold. Meanwhile, data released last week showed US nonfarm payrolls increased by just 57,000 in June, the smallest gain in four months and well below forecasts of 110,000, prompting traders to reduce their bets on a September rate hike. According to the CME FedWatch tool, the probability of a hike fell to 50%, down from 66% before the report.
2026-07-06