Gold stabilizes near two-week high as rate hike expectations recede

2026-07-06T06:28:06.475Z

Spot gold prices stabilized at $4,175.02 per ounce near a two-week high, after US jobs data weakened expectations of a rate hike by the Federal Reserve, recording weekly gains exceeding 2%, while August futures rose to $4,186.80, and silver, platinum, and palladium continued to rise.

Gold prices stabilized today near their highest levels in two weeks, following the US jobs report released last week that came below expectations, contributing to a slight decline in expectations of a rate hike by the Federal Reserve (the US central bank).

Spot gold stabilized at $4,175.02 per ounce, after achieving weekly gains exceeding 2% last Friday, ending a four-week losing streak.

In futures, US gold contracts for August delivery rose 1.5% to $4,186.80 per ounce.

Among other precious metals, spot silver continued its gains for the fifth consecutive session, rising 0.1% to $62.47 per ounce. Platinum rose 0.4% to $1,645.05 per ounce, while palladium increased 0.1% to $1,275.18 per ounce.