12:39 - 3.07.2026

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July 3, Fineko/abc.az. Global gold prices showed steady growth amid the publication of weak macroeconomic data on employment, which reduced investors' concerns about the long-term preservation of high interest rates by global regulators.

Against this backdrop, the dollar index went down, and the spot gold price rose more than by 1.4%, reaching $4,179.94 per ounce (the highest since June 23). As a result, the precious metal grew by 2.3% over the course of the week, marking the first weekly increase in five weeks.

Analysts note that slowdown in labor hiring has led investors to reevaluate their expectations for further monetary policy tightening, reducing the likelihood of another rate hike in the fall from 66% to 54%. However, the risks of a cooling economy have not completely disappeared, and a new wave of correction may occur in the gold market by the end of the year, with a potential decline to around $3,500 per ounce. The market is also supported by the World Gold Council, which reported that central banks have resumed active purchases, increasing the net volume of official gold reserves by 41 tons over the month.

Following gold, other precious metals also showed significant growth. Spot silver rose by 2.3% to $62.43, platinum increased by 2.7% to $1,660.05, and palladium gained 1.3% to reach $1,284.40 per ounce. All three metals have risen to their highest levels in more than a week and are also ending the current seven-day period in the green zone on global exchanges.