Shafaqna English- A stunning miss in the U.S. nonfarm payrolls figures for July served as the primary catalyst behind gold’s aggressive rally on Friday(7 Aug 2026), driving the metal to its highest price level in seven weeks. The employment data proved substantially weaker than economists had anticipated, prompting a wholesale reevaluation of the Federal Reserve’s policy trajectory and effectively neutralizing any remaining expectation of a rate increase.
As a direct consequence, the safe-haven asset has mounted an impressive recovery, now headed toward its most robust weekly performance in seven months, as market participants increasingly price in a more dovish stance from the central bank going forward.
Spot gold settled at $4,336.02 per ounce as of 2:42 p.m. EDT, marking a 2.3% jump for the session. The metal had earlier spiked by more than 3% to reach levels not seen since June 17, underscoring the extent of the market’s reaction to the sharp downward revision in U.S. employment figures and the resulting reassessment of Federal Reserve policy.