Gold prices soared nearly 2% on Friday, rebounding from earlier-week losses, after softer-than-expected US payroll data reignited expectations of a Federal Reserve rate cut. The weak labour report, paired with renewed global tariff concerns, has sparked a surge in safe-haven demand — pushing gold higher once again.
Spot gold jumped 1.8% to AUD $3,348.31 per ounce, while US gold futures rallied 1.6% to break back above the crucial USD $3,400 level.
At the start of the week, gold prices had dipped as the Fed left interest rates unchanged and economic indicators suggested continued US strength. But Friday’s US nonfarm payrolls report told a different story, showing job growth falling short of forecasts — a potential sign of economic slowing.
According to Bart Melek, Head of Commodity Strategy at TD Securities:
“The payroll numbers were below expectations. This increases the likelihood of the Fed cutting rates later this year.”
Markets are now betting on two US rate cuts by the end of 2025, with the first likely in September. Rate cuts weaken the US dollar and reduce the opportunity cost of holding gold — historically a powerful catalyst for price gains.
Meanwhile, ongoing inflationary pressures from tariffs and rising wages continue to drive investors towards gold as a hedge. Melek adds:
“If the Fed decides to cut, that will likely have a strongly positive impact on gold.”
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With gold trading near record highs in Australian dollars, there has rarely been a better time to cash in. Prices have already surged over 25% this year, driven by economic uncertainty, global trade friction, and geopolitical risks — and they’re still holding firm.
If you’ve got unwanted gold jewellery, bullion, or coins sitting idle, now is the ideal moment to unlock their value. At GoldCompany, we offer:
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Whether you’re looking to take advantage of the current high price or simply want to declutter your jewellery box, GoldCompany makes it easy and rewarding.
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