December gold futures rose to $4,3831 per ounce ahead of the July jobs report, which may influence Fed rate decisions.
Gold December futures climbed to $4,3831 per troy ounce on August 7, 2026, extending gains as investors awaited the July jobs report. The market opened flat at $4,298.30 but rallied amid speculation over the Fed’s next move.
Economists expect the report to show 80,000 jobs added in July, a figure that could sway expectations for a September rate hike. Persistent Middle East tensions and inflation concerns continue to support gold’s appeal as a hedge.
Gold prices have risen 4.8% over the past week and 27% year-over-year, though gains have moderated from January’s 95.6% surge.