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Spot gold rose 2.4% Friday to $4,341.69, its highest since 17 June, after US July payrolls fell 23,000 against forecasts of an 80,000 gain. The move ended a six-week range near the 4074-4112 zone. Weekly gain exceeded 7%, the largest since January.
Spot gold falls 2.1% to $4,043 and silver slides 3.8% to $57.44 in a broad precious metals decline. Brent crude touches $100 a barrel for the first time since late May, ten-year US yields hit a one-year high and September Fed hike odds climb to 83% from 68%, per CME FedWatch. Dollar firms 0.3%.
Spot gold and silver trade well below their late-January records of $5,589.38 and $121.67 per ounce. Gold posted its worst quarterly decline in 13 years through June. Higher interest rates, a firm US dollar and elevated oil prices continue to shape flows across the precious metals complex.
