business π Gold holds steady as Hormuz talks change the vibe
Spot gold prices were firmer while spot silver prices weakened in early U.S. trading on Thursday. This occurred despite a firmer U.S. dollar because of softer labor momentum and reduced geopolitical risk from Strait of Hormuz talks. Gold traded near $4,252.60 an ounce, and silver was at $61.390, with claims rising slightly to 199,000. The market is processing the Fed's decision and awaiting July nonfarm payrolls to guide future rate expectations. A sustained hold above $4,250 for gold keeps focus on labor weakness and lower real-yield pressure. π°