Gold news for August 7, 2026

Gold is being supported by a combination of easing US Treasury yields and a softer US Dollar, which reduces the opportunity cost of holding the metal. Additionally, weak US payrolls data and growing optimism over a potential Hormuz deal have further fueled demand, while Chinese investors have added $1.2bn to gold ETFs in their longest buying streak since March.

Updated 04:24 UTC

How the day unfolded

1. 01:24 UTC

   Gold is rallying toward $4,300-$4,380 as US Treasury yields ease and the US dollar softens, with weak payrolls data and hopes for a Hormuz deal providing additional support. The metal hit its highest level since June, with market attention focused on $4,350 and $4,380 after bulls tightened their grip on Hormuz reopening optimism. These macroeconomic and geopolitical factors are currently driving the instrument's strength.

Headlines (14)

• Westgold to expand Cue hub processing rates for more ore optionality, higher output
  www.miningweekly.com · Aug 5, 11:07 UTC
• Durrett sees two more legs in gold prices as miners lag
  www.mining.com · Aug 5, 12:10 UTC
• investingLive Americas market news wrap: Gold storms higher
  investinglive.com · Aug 5, 21:34 UTC
• $4,350 and US NFP in focus: Gold bulls tighten grip on Hormuz reopening hopes
  www.fxstreet.com · Aug 6, 03:23 UTC
• Gold Price Forecast: XAU/USD bulls target $4,380 buoyed by lower US yields
  www.fxstreet.com · Aug 6, 10:37 UTC
• Gold price hits highest level since June on weak payrolls data and Hormuz deal hopes
  www.cnbc.com · Aug 6, 11:02 UTC
• Gold: Hormuz optimism supports rally – ING
  www.fxstreet.com · Aug 6, 11:36 UTC
• Why is Gold surging toward $4,300 as the US Dollar and Treasury yields ease?
  www.fxstreet.com · Aug 6, 14:55 UTC
• Chinese investors pour $1.2bn into gold ETFs in longest streak since March
  investinglive.com · 01:43 UTC
• Gold stays supported amid Middle East de-escalation, but the US CPI could erase the gains
  investinglive.com · 08:27 UTC
• China's gold reserves rise by most since October 2023 as buying pace quickens
  www.miningweekly.com · 09:19 UTC
• Gold Gains as Dovish Fed Expectations Pressure DXY and Treasury Yields
  www.investing.com · 13:35 UTC
• Gold, silver prices surge as US economy sheds 23,000 jobs
  www.mining.com · 14:16 UTC
• Gold miners surge more than 20% in breakout week
  www.mining.com · 18:04 UTC

Scheduled events

As of 22:24 UTC

• 2026-08-07 — SECO Consumer Climate · forecast -34 · CHF
• 2026-08-07 — Foreign Currency Reserves · CHF
• 2026-08-07 — Unemployment Rate · forecast 4.2% · USD
• 2026-08-07 — Non-Farm Employment Change · forecast 85K · USD
• 2026-08-07 — Average Hourly Earnings m/m · forecast 0.3% · USD
• 2026-08-07 — FOMC Member Barkin Speaks · USD
• 2026-08-07 — Consumer Credit m/m · forecast 11.4B · USD
• 2026-08-08 — FOMC Member Bowman Speaks · USD