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Weekly recap · Jun 29–Jul 3, 2026

Gold and silver rose for the week as weak U.S. jobs data cooled rate-hike bets

Gold ended July 3 at $4,164.15 an ounce, up 2.3% for the week, as weak U.S. jobs data pushed expectations for another Federal Reserve rate hike further out, according to Reuters and Kitco. Silver outperformed, finishing at $62.26 an ounce after holding its post-jobs-data gains, Kitco reported. Reuters also pointed to softer physical demand in India as prices rebounded, while buying improved in China. JPMorgan added a note of caution, telling Reuters that weaker demand could cap gold’s gains in the near term.

AI summaryWritten automatically with AI from 9 linked reports and our own price data, Oct 21, 3:23 AM ET. Each point links to its sources. Published without an editor’s review; not investment advice. How this page is made

The week in prices

  • Gold$4,164.15+2.3%
  • Silver$62.26+6.6%
  • Platinum$1,648.90+2.2%
  • Palladium$1,276.90+6.4%

Tone of the reports: Mixed

The week’s key developments

  1. Gold headed for a weekly gain after weak U.S. jobs data reduced expectations for another Fed rate hike, Reuters reported.

    SourcesReuters: Gold heads for weekly gain as weak US jobs data tempers rate hike bets

  2. Gold and silver held their post-jobs-data gains as rate-hike bets moved out, according to Kitco’s PM report.

    SourcesKitco News: Gold and silver hold post-NFP gains as hike bets move out - Kitco PM Report

  3. JPMorgan told Reuters that weaker demand may cap gold gains in the near term, even as it expects a later rebound beyond this year.

    SourcesReuters: JP Morgan says weaker demand may cap gold gains near-term, sees rebound in late 2026 and 2027

  4. Central banks bought a net 41 tonnes of gold in May, the World Gold Council said in a report cited by Kitco.

    SourcesKitco News: Central banks boost gold reserves with net 41 tonnes purchased in May – World Gold Council

  5. Reuters reported that India’s gold demand diminished as prices rebounded, while buying improved in China.

    SourcesReuters: ASIA GOLD India gold demand diminishes as prices rebound; China buying improves

  6. State Street’s baseline scenario sees gold as high as $5,500/oz by Q1 2027, according to Kitco.

    SourcesKitco News: State Street’s baseline scenario sees gold price as high as $5,500/oz by Q1 2027

Bull vs bear

The arguments the day’s reports made for each direction. We list them side by side; we don’t pick one.

The case for higher prices

The case for lower prices

Metal by metal

Gold $4,164.15 +0.85%

Reports tied the week’s strength to weaker U.S. jobs data pushing out expectations for another Fed rate hike (supportive for non-yielding assets like gold), according to Reuters and Kitco. Kitco also highlighted ongoing central-bank buying, while Reuters flagged mixed physical demand signals (weaker India demand as prices rebounded, better buying in China).

Gold headlines

Silver $62.26 +4.38%

Kitco said silver held onto gains after the U.S. jobs data, alongside gold, as expectations for a rate hike moved lower. Beyond that, this week’s reports were light on silver-specific drivers.

Silver headlines

Platinum $1,648.90 +1.94%

No report focused on platinum.

Platinum headlines

Palladium $1,276.90 +1.72%

No report focused on palladium.

Palladium headlines

Day by day

  1. Friday, Jul 3Gold steadies above $4,100 after weak jobs data; JPMorgan flags near-term demand cap

How this page is made

Collected every hour. Summed up twice a day. Linked to the source.

Where the news comes from

  • Reuters and Dow Jones headlines for gold, silver, platinum and palladium, through TradingView
  • Kitco News and MetalsDaily
  • The World Gold Council
  • Google News, for wider coverage
  • A daily AI web search for anything the feeds missed

How the briefs are written

Every hour we collect new headlines. An AI model from OpenAI tags each one by metal, topic and importance and writes a one-line summary from its headline and teaser. It doesn’t read paywalled articles. On weekdays at about 8 AM and after the 5 PM New York close, it writes a brief from the most important reports and our own spot price feed. Every point cites the reports it came from. On Fridays it writes a recap of the week.

Who publishes it

Bullion Trading LLC is a physical precious metals dealer in New York’s Diamond District, in business since 2008. Prices on this page come from our own live feed and LBMA history. We buy and sell bullion, so read the briefs as market context, not investment advice. Briefs are published automatically, without an editor’s review. If you spot an error, tell us.

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