This unexpected data boost sends gold surging $60 to break through $4500, with bulls eyeing $5000 as the next target?

Driven by the combined impact of the non-farm payroll data and the preliminary reading of the University of Michigan Consumer Sentiment Index, gold surged rapidly, refreshing its intraday high. Spot gold soared by approximately USD 60, breaking through the USD 4,500 mark.

FX168Jan 10 00:52

Weaker U.S. employment data reinforces expectations of monetary easing, profit-taking pressures weigh on gold prices but downside remains limited.

International gold prices saw a notable correction on Wednesday as investors opted to take profits. However, weaker-than-expected US employment data reinforced market expectations for the Federal Reserve to cut interest rates within the year, limiting the decline in gold prices.

Zhitong FinanceJan 8 08:03

Breakfast Briefing on January 8: Investors' Profit-taking Limits Gold Price Gains, Oil Prices Digest Trump's Venezuela Oil Agreement, Awaiting Non-farm Payroll Data

In the Asian trading session early Thursday (Beijing time, January 8), spot gold was trading near $4,461.60 per ounce, with prices falling nearly 1% on Wednesday as investors took profits following recent gains. However, weaker-than-expected US employment data supported expectations of an interest rate cut by the Federal Reserve, narrowing the decline in gold prices before the close. Meanwhile, US crude oil was trading near $56.40 per barrel, with prices falling for a second consecutive trading day on Wednesday as investors digested an announcement by President Trump regarding an agreement to import up to $2 billion worth of crude oil from Venezuela, which is expected to increase supply in the world's largest oil-consuming country. The focus for the day remains on stock markets.

FX678 FinanceJan 8 07:26

ADP data unexpectedly missed expectations, boosting rate cut speculation! Gold surged over $40 from its low, while silver, platinum, and palladium plummeted across the board.

International gold prices fell more than 1% from their highs on Wednesday, primarily due to profit-taking following a previous rally. However, the decline moderated as weaker-than-expected growth in U.S. private sector employment for December, according to the ADP report, fueled market expectations for an interest rate cut by the Federal Reserve. Meanwhile, the People's Bank of China once again increased its gold reserves, underscoring the resilience of official demand.

FX168Jan 8 00:48

Index Weight Adjustment + US Economic Data Release! Precious Metals' First Major Test of 2026 Set to Begin

Following gold's best annual performance since 1979 and a nearly 150% surge in silver, the precious metals market is about to face its first real test of 2026.

Golden10 DataJan 7 14:45

Are Precious Metals Facing Adjustments? Rebalancing of Key Commodity Indexes Begins

Precious metals plummeted significantly, with spot gold breaking below USD 4,450 per ounce, spot silver dropping more than 3% intraday, spot platinum falling over 7%, and spot palladium declining more than 5%. The closely watched Bloomberg Commodity Index (BCOM) is set to conduct its annual weight rebalancing in January 2026.

wallstreetcnJan 7 14:06