Gold prices jumped above $4,100 per ounce on Thursday, rebounding from an eight-month low, as markets scaled back expectations for Federal Reserve rate hikes following weaker-than-expected US jobs data. The economy added just 57,000 jobs in June, the fewest in four months and well below the 110,000 forecast, with leisure and hospitality shedding 61,000 jobs despite a World Cup tourism boost. The unemployment rate unexpectedly fell to 4.2% as workers left the labor force, while wage growth edged up to 3.5% year-over-year. Fed funds futures now price in less than a 50% chance of a September rate hike, down from 67% before the report. On Wednesday, Fed Chair Kevin Warsh noted easing inflation expectations but reaffirmed the central bank’s commitment to price stability. Gold also gained support from increased oil shipments through the Strait of Hormuz and progress in indirect US-Iran talks, which pushed oil prices lower and further soothed inflation concerns.

Gold rose to 4,118.13 USD/t.oz on July 2, 2026, up 2.15% from the previous day. Over the past month, Gold's price has fallen 7.14%, but it is still 23.81% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Gold reached an all time high of 5608.35 in January of 2026. Gold - data, forecasts, historical chart - was last updated on July 2 of 2026.

Gold rose to 4,118.13 USD/t.oz on July 2, 2026, up 2.15% from the previous day. Over the past month, Gold's price has fallen 7.14%, but it is still 23.81% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Gold is expected to trade at 4269.70 USD/t oz. by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 4460.56 in 12 months time.



Price Day Month Year Date
Gold 4,126.70 95.34 2.37% -6.95% 24.06% Jul/02
Silver 61.28 2.197 3.72% -15.70% 66.30% Jul/02
Copper 6.13 0.0109 0.18% -5.35% 20.38% Jul/02
Steel 3,039.00 -7.00 -0.23% -4.40% -0.36% Jul/02
Lithium 162,500.00 2500 1.56% -4.69% 161.67% Jul/02
Platinum 1,633.30 33.40 2.09% -12.87% 18.85% Jul/02
Iron Ore 98.36 -1.84 -1.84% -6.44% 3.40% Jul/01



Related Last Previous Unit Reference
United States Gold Reserves 8133.46 8133.46 Tonnes Mar 2026
Russia Gold Reserves 2304.75 2326.52 Tonnes Mar 2026
Italy Gold Reserves 2451.84 2451.87 Tonnes Mar 2026
India Gold Reserves 880.52 880.18 Tonnes Mar 2026
Germany Gold Reserves 3350.25 3350.25 Tonnes Mar 2026
France Gold Reserves 2437.00 2437.00 Tonnes Mar 2026
China Gold Reserves 2313.46 2306.30 Tonnes Mar 2026
United States Inflation Rate 4.20 3.80 percent May 2026
United States Fed Funds Interest Rate 3.75 3.75 percent Jun 2026

Gold
Gold is one of the most widely followed precious metals and is often regarded as a safe-haven asset during periods of economic uncertainty, inflation, and geopolitical risk. It plays a dual role as both an investment and a consumer good, with demand driven by financial markets, jewelry consumption, and industrial use. Gold is primarily traded on the over-the-counter London market, as well as on major exchanges such as the COMEX and the Shanghai Gold Exchange (SGE). Standard futures contracts typically represent 100 troy ounces. Globally, gold demand is led by jewelry consumption, followed by investment demand and a smaller share from industrial applications. On the supply side, China, Australia, the United States, South Africa, Russia, Peru, and Indonesia are among the largest producers. Major consumers of gold jewelry include India, China, the United States, Turkey, Saudi Arabia, Russia, and the United Arab Emirates. Gold prices displayed on Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments and are intended to provide a general market reference only. These prices do not represent official benchmark prices. The data is supplied by a third party and, while efforts are made to ensure its reliability, Trading Economics does not verify the data and makes no representations or warranties.
Actual Previous Highest Lowest Dates Unit Frequency
4118.13 4031.36 5608.35 34.83 1968 - 2026 USD/t oz. Daily

News Stream
Gold Jumps as Weak Jobs Data Dims Fed Hike Bets
Gold prices jumped above $4,100 per ounce on Thursday, rebounding from an eight-month low, as markets scaled back expectations for Federal Reserve rate hikes following weaker-than-expected US jobs data. The economy added just 57,000 jobs in June, the fewest in four months and well below the 110,000 forecast, with leisure and hospitality shedding 61,000 jobs despite a World Cup tourism boost. The unemployment rate unexpectedly fell to 4.2% as workers left the labor force, while wage growth edged up to 3.5% year-over-year. Fed funds futures now price in less than a 50% chance of a September rate hike, down from 67% before the report. On Wednesday, Fed Chair Kevin Warsh noted easing inflation expectations but reaffirmed the central bank’s commitment to price stability. Gold also gained support from increased oil shipments through the Strait of Hormuz and progress in indirect US-Iran talks, which pushed oil prices lower and further soothed inflation concerns.
2026-07-02
Gold is up by 2%
Gold increased 2% to 4111.92 USD/t.oz
2026-07-02
Gold Finds Support After Warsh Remarks
Gold strengthened above $4,000 an ounce on Thursday after falling to an eight-month low earlier this week, as Federal Reserve Chair Kevin Warsh said inflation expectations had eased over the past month, suggesting there was no urgency to raise interest rates. However, he reiterated the central bank’s commitment to restoring price stability. Data released on Wednesday also showed private-sector hiring in the US slowed more than expected last month, while investors now await the nonfarm payrolls report later today for fresh insights into labor market conditions and the Fed’s policy outlook. Markets continue to price in more than a 60% chance of a Fed rate hike in September. Gold also drew support from rising oil shipments through the Strait of Hormuz and signs of progress in indirect US-Iran talks, which pushed oil prices lower and eased inflation concerns.
2026-07-01