Latest Gold Price Update TodayHey everyone! Let’s take a closer look at what’s happening with gold today.
Over the past week, the global gold market experienced dramatic swings. Prices tumbled following cautious remarks from Federal Reserve Chair Jerome Powell, only to rebound sharply after disappointing U.S. employment data.
On Wednesday, the Fed held interest rates steady, and Powell stated, “We haven’t made any decisions for September.” Though brief, that statement hinted that a rate cut isn’t guaranteed — dashing investor hopes and sending gold to its lowest level in four weeks.
But by Friday, the narrative flipped. A weaker-than-expected jobs report triggered a powerful rally. Within just two minutes of the data release, gold surged by $30, closing the week at $3,361 — a gain of over 2% in a single day.
These moves highlight just how sensitive gold is to Fed signals. A slight shift in tone or a single data point can spark major volatility.
From a technical perspective, falling U.S. Treasury yields have allowed XAU/USD to regain bullish momentum, as the market reassesses Fed rate expectations after the weak NFP print. If gold successfully breaks out of its current channel after a short-term pullback, the next target could be $3,400 — or even higher.
Do you agree with this outlook? Share your thoughts in the comments.
Good luck and happy trading!
