Pre-NFP caution keeps the dollar subdued while gold rallies 1.8% on Middle East stability and China demand.
Gold prices climbed 1.8% to $4,316 as traders awaited the US nonfarm payrolls report, with Middle East tensions easing but China’s 21st straight month of gold reserve accumulation providing support. The 100-day moving average at $4,390 remains a key resistance level.
US 10-year yields dipped 1 basis point to 4.66%, while S&P 500 futures edged up 0.1% and Nasdaq futures rose 0.4%. The dollar traded narrowly, with EUR/USD flat at 1.1528 and USD/JPY down 0.1% to 158.30. WTI crude fell 0.4% to $76.93, and Bitcoin gained 0.8% to $64,900.
European equities advanced, with the Swiss franc leading gains and the Canadian dollar lagging. Market activity remained muted ahead of the July jobs report, which could shift rate-cut expectations.