Gold Market
Gold closed lower for the week despite a weaker-than-expected US jobs report, as bond yields reversed and rose. Analysts suggest further downside may present a buying opportunity.
Gold approached a breakout last week but lost momentum, settling back above $4,200. Sticky inflation, rising bond yields, and a Fed rate hike expectation counterbalanced geopolitical oil supply risks.
Gold prices wavered after a surprisingly strong US jobs report, but analysts see the pullback as temporary amid rising debt, bond yields, and geopolitical tensions.
Gold and silver prices rose for a second straight session on MCX as the US dollar weakened and bond yields eased. Investors now await US nonfarm payrolls data.
Gold and silver ETFs fell up to 4% on August 31 after hawkish Federal Reserve remarks pushed bond yields higher and strengthened rate-hike expectations, while US-Iran tensions fuelled inflation concerns.
Gold rose above $4,650 on Monday, its highest since mid-May. Lower US bond yields and a softer dollar, as expectations for a Fed rate hike fade, underpin the move.
Spot gold and silver could break their 2026 highs if prices remain above $4,500 and $67.00 for the next ten trading sessions, according to Asian metals market commentary.