07.08.2026 16:10
A notable movement was seen in gold prices on the last trading day of the week. Following the release of US non-farm payroll data, purchases of the precious metal accelerated, with the rise in spot gold exceeding 3 percent. While spot gold climbed above the level of $4,361, gram gold is trading above 6,700 liras.
The US July employment data, which global markets had been eagerly awaiting, caused a shock effect on precious metals after the surprising decline in non-farm payrolls. As buying accelerated following the data, spot gold gained more than 3 percent in a short time, while gram gold approached the 6,700 TL limit.
SURPRISE DECLINE IN NON-FARM PAYROLLS
The US July employment report, which markets had been focused on for weeks, was released on Friday. Contrary to expectations, non-farm payrolls surprisingly decreased by 23,000 people. Despite this contraction in employment, the unemployment rate fell from 4.2 percent to 4.1 percent, presenting a complex picture. These critical figures from the labor market are of great importance, especially in terms of expectations regarding the monetary policy the US Federal Reserve (Fed) will follow in the upcoming period.
FED EXPECTATIONS INCREASED VOLATILITY
The strengthening or weakening in employment data directly affects market pricing regarding the steps the Fed will take in its interest rate policy. The expectation that the contraction in employment will be reflected in interest rate decisions laid the groundwork for fluctuations in global markets after the data. Immediately following the release of the report, there was movement in the dollar index and US Treasury yields, but the main big reaction manifested itself in the increased volatility in gold prices.
RECORD LEVELS IN SPOT AND GRAM GOLD
With the release of the data, demand for the safe haven gold accelerated, and sharp upward movements were observed in prices. Spot gold climbed above the 4,361 dollar level with a daily premium exceeding 3 percent, surpassing a notable threshold. In the domestic market, the gram price of gold, directly supported by this global rise, approached levels of 6,700 TL.