Gold held above $4,300 per ounce on Monday, 10 August, after rising more than 7% the previous week in its strongest weekly performance since late January, as signs of a weakening US labour market eased fears of a near-term interest rate increase by the Federal Reserve.
By early morning, the precious metal was up 0.31% at $4,355.18 per ounce, having opened the session lower as some investors opted to take profits. Silver advanced 1.09% to $64.25 per ounce.
The recovery in bullion gathered momentum after data released on Friday showed an unexpected contraction in US employment in July, while figures for the two preceding months were revised downward. The data prompted investors to scale back expectations of a near-term rate hike. Attention this week will turn to US inflation figures, which could provide fresh guidance on the Federal Reserve’s next policy steps.
Gold, which generates no yield, tends to underperform in higher interest rate environments. A 0.4% decline in Bloomberg’s dollar index following the release of the jobs data also provided additional support for the metal. Meanwhile, hedge funds and asset managers lifted their bullish bets on gold to more than six-month highs, according to the latest data from the Commodity Futures Trading Commission (CFTC), as cited by Bloomberg.
Demand is also rising in China. Gold exchange-traded funds (ETFs) recorded fresh capital inflows last week, extending their longest inflow streak since March. The Chinese central bank also bolstered its reserves, purchasing 640,000 ounces in July — marking its 21st consecutive month of accumulation.
Despite the recovery seen in recent weeks, gold remains almost 20% below the levels recorded before the outbreak of the war with Iran at the end of February, as Tehran and Oman have yet to reach a definitive agreement on the reopening of the Strait of Hormuz.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/2026/08/10/mercados/commodities/ouro-segura-ganhos-acima-dos-4300-dolares-apos-melhor-semana-desde-janeiro/
