Gold Holds at $4,050 as Markets Eye Labor Data and a 65% Fed-Move Bet

Gold traded near $4,050 an ounce on August 4, 2026, range-bound as investors awaited US labor data. Markets price a 65% chance of a 25 basis-point Federal Reserve rate move in September — a quarter-point shift. The Fed left rates unchanged in July. Upcoming jobs figures could tilt that probability and break gold's narrow range, since lower rates reduce the opportunity cost of holding non-yielding bullion.