Gold Extends Gain on Hormuz Deal

2026-08-06 00:01 By Jam Kaimo Samonte 1 min. read

Gold climbed toward $4,300 an ounce on Thursday, rising for the fourth straight session and rallying nearly 6% so far this week as a deal to partially reopen the Strait of Hormuz pushed oil prices lower, easing concerns over inflation and the outlook for interest rates.

Iran and Oman reached an agreement on a shipping corridor through the strait, boosting expectations of increased energy flows from the Middle East.

Markets scaled back expectations for Federal Reserve interest rate hikes this year, now pricing in just one increase by year-end, compared with two as recently as last week.

Meanwhile, ADP data showed the US economy added only 44,000 private-sector jobs in July, the weakest reading since January and well below forecasts for 70,000.

Elsewhere, Fed Governor Lisa Cook reiterated on Wednesday that she remains prepared to raise rates if inflation fails to cool, warning that the central bank may not have the luxury of waiting before bringing inflation back to its 2% target.



News Stream
Gold Extends Gain on Hormuz Deal
Gold climbed toward $4,300 an ounce on Thursday, rising for the fourth straight session and rallying nearly 6% so far this week as a deal to partially reopen the Strait of Hormuz pushed oil prices lower, easing concerns over inflation and the outlook for interest rates. Iran and Oman reached an agreement on a shipping corridor through the strait, boosting expectations of increased energy flows from the Middle East. Markets scaled back expectations for Federal Reserve interest rate hikes this year, now pricing in just one increase by year-end, compared with two as recently as last week. Meanwhile, ADP data showed the US economy added only 44,000 private-sector jobs in July, the weakest reading since January and well below forecasts for 70,000. Elsewhere, Fed Governor Lisa Cook reiterated on Wednesday that she remains prepared to raise rates if inflation fails to cool, warning that the central bank may not have the luxury of waiting before bringing inflation back to its 2% target.
2026-08-06
Gold Climbs to Seven-Week High on Hopes of US-Iran Deal
Gold extended its gains to around $4,200 an ounce on Wednesday, reaching its highest level since June 18, as easing geopolitical tensions and softer US labor market data reinforced expectations of a less aggressive Federal Reserve. President Donald Trump said the US and Iran held "very good discussions" on Tuesday, raising hopes of a deal to end their five-month conflict. The prospect of restored Middle Eastern energy supplies has pushed oil prices down about 10% this week, easing inflation concerns and reducing expectations for further Fed tightening. Meanwhile, the ADP Employment Report showed the US economy added just 44,000 private-sector jobs in July, the weakest reading since January and well below forecasts of 70,000. Traders now see a 57% chance of a September Fed rate hike, down from 67% a day earlier. Still, Kansas City Fed President Jeff Schmid said some additional policy tightening may be needed to bring inflation back to the central bank's 2% target.
2026-08-05
Gold Hits 4-week High
Gold increased to 4169.00 USD/t.oz, the highest since July 2026. Over the past 4 weeks, Gold gained 0.08%, and in the last 12 months, it increased 23.73%.
2026-08-05