Surprise! U.S. nonfarm payrolls unexpectedly declined by 23,000 in July, with previous two months' figures revised down by a total of 103,000, dampening expectations for further rate hikes.

Expected to rise by 80,000 but plunged by 23,000 instead! The latest U.S. nonfarm payroll data unexpectedly cooled significantly—has a September rate hike become nothing more than wishful thinking?

wallstreetcnAug 7 21:04

Gold surges $300 in three days! A short squeeze unfolds, and the rally may be far from over—UBS Group calls for $5,000 an ounce by next year.

Previously, many CTA trend-following funds maintained short positions in gold. Now, as gold prices have broken through key levels, CTAs are cutting losses and turning net long. Meanwhile, a significant amount of speculative gold capital missed the current rally and may be forced to chase higher prices in the near term, potentially fueling a second wave of gains. UBS Group notes that declining U.S. Treasury yields, a medium-term weakening of the U.S. dollar, and sustained central bank gold purchases will drive gold prices to USD 5,000 by the first half of 2027.

wallstreetcnAug 7 22:50

Gold Rallies Over 7%: UBS Sets $5,000 Price Target

Yahoo Finance04:25

Why Are Gold and Silver Up Today, 8/7/26?

TipRanks02:52

Gold and Silver Surge by $2.7 Trillion While Bitcoin Lags. Did the Japanese Yen Hold Crypto Back?

TipRanksAug 7 23:03

US Dollar Falls On Dismal July Non-Farm Payrolls Data

InvestingCubeAug 7 22:34