Athman Gold buyers, here is your clear guide for Monday July 6. Gold is holding steady at approximately $4,150 per ounce after a strong week — it rose about 2% last week, its first weekly gain since late May. Prices are consolidating near a two-week high as the market awaits Wednesday’s Federal Reserve meeting minutes. Here is what it all means at the counter and what to consider this week.
Today’s prices:
24K: ~$133.30/gram | 22K: ~$122.20/gram | 21K: ~$116.60/gram | 18K:
~$99.98/gram
Where prices stand:
Gold has recovered nicely from late June’s low near $4,000. It is now about $150 per ounce above that bottom. Compared to January’s record high of $5,589,
today’s 24K price is still roughly $46/gram below the peak — meaning a 50-gram necklace remains about $2,300 cheaper than at the January top.
Why did gold recover? Last week’s weak US jobs report — just 57,000 jobs added in June versus 110,000 expected — reduced the chance of a Fed interest rate hike. The odds of a September hike fell from 66% to about 50%. Lower rate expectations weakened the dollar (its worst week since April) and lifted gold. Oil also settled near $70 as the Strait of Hormuz recovers, easing inflation.
What should buyers do this week?
For weddings and gifts: gold remains at attractive levels, still well below January’s record, though it has recovered from the recent lows. A good time to buy for near-term needs.
For long-term savers: the outlook is constructive. Central banks bought heavily in May — a net 41 tonnes, led by Poland and China — and continue to provide strong support. Steady buying makes good sense.
For those watching closely: Wednesday’s Fed minutes are the key event. If they signal a patient Fed, gold could rise further. If they sound hawkish, gold could dip
— which would offer a buying opportunity. Next week’s CPI inflation report on July 14 is the following major test.
A note of balance: Not everyone is bullish short-term. JPMorgan cautioned on Friday that demand from some sectors may be softer than expected, and sees gold capped around $4,300 this quarter and $4,500 next quarter. These targets are still above today’s price, but they suggest the near-term gains may be gradual rather than explosive.
The big picture: Gold at $4,150 is up 24.4% over the past year. The recovery is underway, central banks keep buying, and the structural case remains strong.
Current prices: 24K — $133.30/gram | 22K — $122.20/gram | 21K —
$116.60/gram
All prices USD. Monday July 6 session. Confirm live price before purchase.
