Gold Surges to $3350 as Tariffs and Weak Jobs Data Rattle Markets

Happy Friday, merchants. Welcome to Weekly Market Wrap, where we look at these past five days to trade with a focus on market news, economic data and addresses that have had a greater impact on gold prices and other major associated assets – and may continue in the future.

This is what you need to know:

1. Golden space prices rose to $ 3350/ounces on Friday after a weak job report, and the new tariff shocked the market.

2. Earlier in the week, gold fell briefly to less than $ 3,300/ounces amid uncertainty in the federal reserve and profit profits.

3. The Federal Reserve maintained fixed rates, but did not hint that future moves depend on inflation and risk that depend on customs tariffs.

4. It is expected that the fluctuation will continue until next week due to the limited economic data and the high uncertainty.

It seems that the financial markets, whether it is a technical market and as a group of people, has been riding the waves very smoothly this week. These waves are one of the highest topical weeks, from the perspective of macroeconomic data, at one time, as well as the potential pivots of the FOMC meeting in July and the age of another group of Trump’s tariff against many trade partners in the United States.

For gold specifically, trading in the first days of the week was sometimes butter, with traders put themselves for fireworks in the middle of the week and liquidated profits before closing the business book in July. On the network, the yellow metal slides slightly less during these sessions, but it seems to have healthy support and is ultimately traded in a range ranging between $ 3320-3330 in the instant market.

Early on Wednesday morning, as managers and investors who prepared to announce FOMC (and to a lower extent, the first look at the GDP of the United States for Q2) endured the most severe gold of selling the week, which reduced support and seizure of $ 3,300 before opening the US monetary market and continues to slip into the weekly Nadir at $ 3270/OZ.

The FOMC Declaration was largely delivered in July as expected: There is no price reduction yet, to the sadness of the American administration from other things, and the refusal directly refused that the reduction in September (nothing about the Jackson Hall summit this month) is more than just a possibility and sees “waiting and tells the potential inflationary effects of Trump’s policy in the United States.

The reaction of the gold prices with a moderate recovery was, although any higher gathering of precious metals would have been concealed by the opposite winds of the Federal Reserve (summons, a lot of bullish transport in gold in 2025 was based on fewer expectations.)