Gold Prices Surge Globally as US Job Data Boosts Market

gold price surge U.S. jobs data People's Bank of China gold purchase Vietnam gold market Treasury yield decline

Spot gold rose sharply, reaching about $4,341 per ounce – the highest level in two months – after the U.S. July jobs report showed non‑farm payrolls falling by 23,000 and unemployment holding near 4.1%. The weaker labour data pushed Treasury yields lower (the 10‑year yield fell to 4.64%) and trimmed expectations for a September Federal Reserve rate hike, with the Fed keeping its policy range at 3.50‑3.75% after a 9‑3 vote.

The price rally was mirrored in Vietnam, where major dealers listed spot gold at 141‑144 million VND per tael, the strongest level in two weeks, and ring‑gold prices outpaced bar prices by up to 2 million VND per tael. The domestic surge followed the same global momentum.

Meanwhile, the People’s Bank of China bought 20 tonnes of gold in July, its biggest monthly purchase since October 2023, lifting its official reserves to 2,366 tonnes. Other central banks also added to their holdings, with the Czech National Bank buying 1.7 tonnes and Kazakhstan’s central bank adding more than 1 tonne. Analysts see the coordinated buying as a diversification move away from the U.S. dollar.

The U.S. dollar index slipped to about 99.96, the yen and euro weakened, and coordinated yen‑support interventions by Japan and the United States added further pressure on the greenback, reinforcing the upward bias for gold.

Entities: Bảo Tín Mạnh Hải · Deutsche Bank · Federal Reserve · Gold · Gold · Iran Parliament · Ngân hàng Nhà nước (Vietnamese central bank) · PNJ · People's Bank of China · SJC · SPDR Gold Trust · Saigon Jewelry Company (SJC)

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[● 2 SOURCES] U.S. July non‑farm payrolls fell by 23,000 jobs and unemployment stayed near 4.1%. (78c86f44-0d22-4a6c-8b3b-7e6500e5fc96, 557bf854-0e9e-40a9-990e-e26c2e83b4d5)
[● 2 SOURCES] Vietnam’s spot gold price rose to 141‑144 million VND per tael, the highest in two weeks. (f3c21fa2-fda8-458f-afda-d23f83ccbcb4, 8996da46-faff-4600-acd1-cfc9d858d7e5)
[● 2 SOURCES] The U.S. dollar index slipped to about 99.96, weakening the dollar against the yen and euro. (0e18e5ce-b4b3-47ed-84f5-8f7c02bb0f82, deb4fedb-25f0-415a-b662-4e91bcd081a7)
[○ 1 SOURCE] The Czech National Bank bought 1.7 tonnes of gold and Kazakhstan’s central bank added more than 1 tonne. (30df18ec-d761-4414-a97e-35be9c21a9ce)
[○ 1 SOURCE] The Federal Reserve kept its policy rate unchanged at 3.50‑3.75% after a 9‑3 vote. (78c86f44-0d22-4a6c-8b3b-7e6500e5fc96)
[● 2 SOURCES] Spot gold rose to about $4,341 per ounce, the highest level in two months. (78c86f44-0d22-4a6c-8b3b-7e6500e5fc96, f3c21fa2-fda8-458f-afda-d23f83ccbcb4)
[○ 1 SOURCE] U.S. 10‑year Treasury yield fell to 4.64% after the jobs report. (78c86f44-0d22-4a6c-8b3b-7e6500e5fc96)
[○ 1 SOURCE] People’s Bank of China bought 20 tonnes of gold in July, its largest monthly purchase since October 2023, raising reserves to 2,366 tonnes. (30df18ec-d761-4414-a97e-35be9c21a9ce)