Gold Touches $4,300 on Hormuz Deal Hopes and Weak US Jobs Data

The Story in Brief

Spot gold briefly crossed $4,300 an ounce on Thursday, reaching its highest level since June, before trimming gains and settling at about $4,268. Gold futures stood at $4,294.07 an ounce by 9.25 pm.

NDTV Profit attributed the rise to hopes of a deal involving the Strait of Hormuz and weak US jobs data, which lifted bets on Federal Reserve action. The report did not provide details of the possible deal or the jobs figures. Gold’s brief move above $4,300 marks the key price point for investors watching whether the rally can hold.

The Indian Opinion

The easy story is that one geopolitical hope or one weak US data release has permanently changed gold’s direction. This move is more limited: spot prices crossed $4,300 briefly, then fell back to around $4,268. Investors should be wary of treating a single session as a new trend. The clearest test is whether spot gold can stay above $4,300 in subsequent sessions.

Source: ndtvprofit.com

This story was synthesised by AI from the source linked above.

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