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Gold surges toward $4,200 as weak US jobs data weighs on dollar
03-Jul-2026 14:31
Gold futures climbed toward $4,200 an ounce on Friday, extending gains after weaker-than-expected U.S. labor market data reinforced expectations of a less aggressive Federal Reserve. A softer U.S. dollar further boosted demand for bullion, while silver outperformed gold, rising to around $63.50 an ounce on the back of strong industrial demand. The U.S. economy added just 57,000 jobs in June, the weakest increase in four months, prompting traders to scale back expectations for further Fed rate hikes. Meanwhile, Federal Reserve Chair Kevin Warsh noted that inflation expectations are moderating while reaffirming the central bank's commitment to price stability. Reflecting the positive sentiment, MCX August gold futures advanced 1.35% to Rs 147,730 per 10 grams.

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