EL7.AI
CommoditiesUpdated×4•Originally published 1 July 2026•Updated 1 July 2026•
1 min read

Gold steadies near $4,000 as markets await US jobs data, Fed speech

Gold bars on a cracked pedestal marked $4,000 and 2008, with a broken shield and a performance pressure gauge.

Key Facts

1Gold prices slipped due to firmer US Treasury yields and the impact of the Federal Reserve's interest rate outlook.

After June's sharp plunge that took gold below $4,000 an ounce for its worst month since 2008, the precious metal has steadied near that key psychological level as traders await US jobs data and a speech by Federal Reserve Chair Jerome Powell. The stabilization comes as market focus shifts to economic indicators that could shape the rate path ahead.

All eyes are on Friday's nonfarm payrolls report — any sign of a softening labor market could ease rate-hike fears and support gold, while strong data might renew pressure and push it back below $4,000. Investors are also watching Powell's remarks for hints on the timing of potential rate cuts later this year.

Latest Updates · 1

  1. Notable·

    This decline follows gold posting its worst quarter in 13 years, as inflation fears from higher energy prices linked to the Iran war reinforced expectations of Fed rate hikes. Reports suggest that ongoing geopolitical tensions could keep the precious metal under pressure in the near term.