‎Gold rises, set for strongest weekly gain since January

‎<p><img src="https://argaamplus.s3.amazonaws.com/957e96ef-6452-4e1c-a54d-0c250d9e0586.png" ></p> <p class="ckeCaption" >Lower oil prices and easing inflation expectations supported bullion.</p> <hr> <p >Gold prices rose during Friday's trading and were on track to post their strongest weekly gains since January, supported by lower oil prices. This came as investors awaited the US nonfarm payrolls report.</p> <p ></p> <p >Hopes for a Middle East peace agreement had eased inflation expectations, allowing gold to rally sharply after trading within a narrow range above $4,000 for several weeks, Reuters reported, citing Matt Simpson, Senior Analyst at StoneX.</p> <p ></p> <p >The CME FedWatch Tool currently shows traders pricing in a 55% probability of a US interest rate increase in September, down from 63% a week earlier.</p> <p ></p> <p >Investors are awaiting the release of the US July nonfarm payrolls report, with economists expecting the economy to have added 83,000 jobs, compared with 57,000 in June.</p> <p ></p> <table border="1" cellpadding="0" cellspacing="0" width="100%"> <thead> <tr > <th colspan="4" > <p ><strong>Futures and Spot Prices of Selected Precious Metals</strong></p> </th> </tr> <tr > <th > <p ><strong><span >Metal</span></strong></p> </th> <th > <p align="center" ><strong><span >Price ($/oz)</span></strong></p> </th> <th > <p align="center" ><strong><span >Change ($)</span></strong></p> </th> <th > <p align="center" ><strong><span >Change (%)</span></strong></p> </th> </tr> </thead> <tbody> <tr > <td > <p ><strong>Gold (October futures)</strong></p> </td> <td > <p align="center" >4,292.60</p> </td> <td > <p align="center" ><span >+24.20</span></p> </td> <td > <p align="center" ><span >+0.56%</span></p> </td> </tr> <tr > <td > <p ><strong>Gold (Spot)</strong></p> </td> <td > <p align="center" >4,263.82</p> </td> <td > <p align="center" ><span >+24.59</span></p> </td> <td > <p align="center" ><span >+0.58%</span></p> </td> </tr> <tr > <td > <p ><strong>Silver (September futures)</strong></p> </td> <td > <p align="center" >62.515</p> </td> <td > <p align="center" ><span >+0.909</span></p> </td> <td > <p align="center" ><span >+1.48%</span></p> </td> </tr> <tr > <td > <p ><strong>Silver (Spot)</strong></p> </td> <td > <p align="center" >62.323</p> </td> <td > <p align="center" ><span >+0.840</span></p> </td> <td > <p align="center" ><span >+1.40%</span></p> </td> </tr> <tr > <td > <p ><strong>Platinum (Spot)</strong></p> </td> <td > <p align="center" >1,738.67</p> </td> <td > <p align="center" ><span >+10.60</span></p> </td> <td > <p align="center" ><span >+0.61%</span></p> </td> </tr> <tr > <td > <p ><strong>Palladium (Spot)</strong></p> </td> <td > <p align="center" >1,369.00</p> </td> <td > <p align="center" ><span >(1.89)</span></p> </td> <td > <p align="center" ><span >(0.15%)</span></p> </td> </tr> </tbody> </table> <p ><em class="ckeCaption">As of 08:06 a.m. Makkah time.</em></p>

Publication

Argaam - Main News · Trade Publication

Published

7th August 2026

Original report

argaam.com

ProcIntel stores what the source published in its feed — a headline, a summary and a link. It does not store or reproduce the full article.