Gold Hits Record Above $4,300 as Weak U.S. Hiring Signals Lower Interest Rates

Gold jumped 2.3% to $4,336.02 on August 7, 2026 — its highest since June 17 — after U.S. hiring data came in weaker than expected. That reduces pressure on the Federal Reserve to raise interest rates. When rates stay low, gold becomes more attractive because it earns no interest. Pepperstone confirmed gold topped $4,300 on August 10.