{"id":3280,"date":"2026-07-06T11:12:46","date_gmt":"2026-07-06T09:12:46","guid":{"rendered":"https:\/\/goldmansons.ee\/precious-metals-week-weak-jobs-data-turns-gold-up\/"},"modified":"2026-07-06T11:12:46","modified_gmt":"2026-07-06T09:12:46","slug":"precious-metals-week-weak-jobs-data-turns-gold-up","status":"publish","type":"post","link":"https:\/\/goldmansons.ee\/en\/precious-metals-week-weak-jobs-data-turns-gold-up\/","title":{"rendered":"Precious Metals Week: Weak Jobs Data Turns Gold Back Up"},"content":{"rendered":"<p>The precious-metals market took a sharp turn last week. After four straight weekly losses, gold found a floor and climbed back above $4,100 as a weaker-than-expected US jobs report eased fears of a Federal Reserve rate hike. Silver followed even more forcefully. Here are the week&#8217;s key developments \u2014 each with a link to its source.<\/p>\n<h2>The week&#8217;s key news<\/h2>\n<ul>\n<li><strong>A weak June jobs report ended gold&#8217;s losing streak.<\/strong> The US added just 57,000 jobs in June, versus the roughly 110,000 expected \u2014 the slowest pace of hiring in four months. The miss trimmed the market&#8217;s odds of a September Fed rate hike from 66% to about 54%. Gold rose 1.3% on Friday to $4,176.29\/oz and finished the week more than 2% higher, breaking a four-week decline \u2014 its longest since August 2023. The dollar, meanwhile, was heading for its biggest weekly loss since April. <a href=\"https:\/\/www.kitco.com\/news\/off-the-wire\/2026-07-03\/gold-heads-weekly-gain-weak-us-jobs-data-tempers-rate-hike-bets\">Kitco, 3 July 2026<\/a><\/li>\n<li><strong>Silver turned sharply higher.<\/strong> Silver jumped 2.6% on Friday to $62.58\/oz, reclaimed the $60 mark and ended a seven-week losing streak in futures. The soft jobs report pressured the dollar and lifted the more risk-sensitive metal faster than gold \u2014 the usual pattern when rate-hike expectations recede. <a href=\"https:\/\/www.kitco.com\/news\/article\/2026-07-02\/gold-and-silver-gain-nfp-miss-pushes-hike-bets-out-kitco-pm-report\">Kitco, 2 July 2026<\/a><\/li>\n<li><strong>The Fed&#8217;s tone softened and geopolitical tension eased.<\/strong> Fed Chair Kevin Warsh told a European Central Bank forum that inflation expectations and risks had eased, even as the central bank reaffirmed its 2% target. At the same time, oil fell for a third straight session as tanker traffic through the Strait of Hormuz recovered and progress was reported in indirect US\u2013Iran talks. A smaller war premium removes part of gold&#8217;s safe-haven support, but a softer inflation outlook pulls in the opposite direction. <a href=\"https:\/\/www.kitco.com\/news\/off-the-wire\/2026-07-03\/gold-heads-weekly-gain-weak-us-jobs-data-tempers-rate-hike-bets\">Kitco, 3 July 2026<\/a><\/li>\n<li><strong>The World Gold Council published its mid-year outlook.<\/strong> The report &#8220;Point break&#8221; (1 July) notes that the first half of 2026 was volatile: gold hit a record $5,405\/oz on 29 January, then sank to $4,002 by 25 June and is down roughly 7% year-to-date. The WGC base case sees the price trading within \u00b15% of around $4,100 in the second half, with direction hinging mainly on rate expectations, geopolitics and central-bank buying. <a href=\"https:\/\/www.gold.org\/goldhub\/research\/gold-mid-year-outlook-2026\">World Gold Council, 1 July 2026<\/a><\/li>\n<\/ul>\n<h2>This week&#8217;s price \u2014 what it means for an Estonian investor<\/h2>\n<p>Our counter prices in euros moved back up alongside the world market. A one-ounce gold coin now costs roughly \u20ac3,800 \u2014 for example, the <a href=\"https:\/\/goldmansons.ee\/en\/?p=2337\">1 oz Austrian Philharmonic gold coin<\/a> is \u20ac3,799.60, the <a href=\"https:\/\/goldmansons.ee\/en\/?p=2351\">1 oz British Britannia gold coin<\/a> is \u20ac3,792.30 and the <a href=\"https:\/\/goldmansons.ee\/en\/?p=2347\">1 oz Canadian Maple Leaf gold coin<\/a> is \u20ac3,856. In silver, the <a href=\"https:\/\/goldmansons.ee\/en\/?p=2852\">1 oz Austrian Philharmonic silver coin<\/a> costs \u20ac75.89.<\/p>\n<p>In practice, a week like this means that after a month-long decline, prices are rising again \u2014 yet still clearly below January&#8217;s peaks. Precious metals are a long-term asset, not a short-term speculation; weekly swings are a normal part of the market. Anyone looking to build a position gradually avoids the pressure of timing a single &#8220;perfect moment&#8221; by spreading purchases over time. With physical gold and silver, always factor in the premium over the spot price, which is reflected in the counter prices above.<\/p>\n<p><em>This article is for informational purposes only and does not constitute investment advice or a solicitation to buy or sell precious metals. Precious metal prices fluctuate. Before making any investment decision, consider your own circumstances and consult a specialist if necessary.<\/em><\/p>\n<p><strong>Goldman &amp; Sons editorial team<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A soft US June jobs report ended gold&#8217;s four-week slide \u2014 gold back above $4,100, silver above $60. This week&#8217;s precious-metals news roundup.<\/p>\n","protected":false},"author":0,"featured_media":3277,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[129],"tags":[],"class_list":["post-3280","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-turu-uudised"],"acf":[],"_links":{"self":[{"href":"https:\/\/goldmansons.ee\/en\/wp-json\/wp\/v2\/posts\/3280","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goldmansons.ee\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goldmansons.ee\/en\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/goldmansons.ee\/en\/wp-json\/wp\/v2\/comments?post=3280"}],"version-history":[{"count":0,"href":"https:\/\/goldmansons.ee\/en\/wp-json\/wp\/v2\/posts\/3280\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/goldmansons.ee\/en\/wp-json\/wp\/v2\/media\/3277"}],"wp:attachment":[{"href":"https:\/\/goldmansons.ee\/en\/wp-json\/wp\/v2\/media?parent=3280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goldmansons.ee\/en\/wp-json\/wp\/v2\/categories?post=3280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goldmansons.ee\/en\/wp-json\/wp\/v2\/tags?post=3280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}