Gold Tops $4,300 as Soft Jobs Data Weakens Fed Rate-Hike Case

Spot gold rose 2.3% to $4,336.02 on August 7, 2026 — its highest since June 17 — after weak U.S. payrolls data dented the case for further Federal Reserve rate hikes. Pepperstone confirmed gold broke a six-week range, clearing $4,300 on August 10. Fewer rate hikes mean lower borrowing costs, which boosts non-yielding assets like gold that pay no interest.