By William Collins, consultant in stock markets – Eurasia Business News, August 7, 2026. Article no 3061
The Dow Jones Industrial Average (^DJI) edged up by 0.1%, while the S&P 500 (^GSPC) gained 0.3%. The Nasdaq Composite (IXIC) rose 0.8% after a mixed day in markets.
Focus shifted to the July jobs report, which revealed an unexpected 23,000 decline in U.S. nonfarm payrolls. Despite the job losses, the unemployment rate edged down to 4.1% from 4.2%. Economists surveyed by Bloomberg had anticipated that the economy would add 80,000 jobs in July, with the unemployment rate holding steady at 4.2%.
West Texas Intermediate futures for September delivery were 0.8% higher at $77.91, while Brent crude , the international benchmark, rose 1.1% to $83.40.
Gold prices surged on August 7, with spot gold quoted near $4,335 per ounce at 10:03 a.m. New York time. The metal was up about $99, or 2.35%, on the day, after trading between $4,228.90 and $4,372.40.
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Gains were also pronounced over three days (+6.92%), seven days (+5.66%), and one month (+5.61%), highlighting a sharp near-term rally in bullion. Despite six-month losses, it remained 28.70% higher year on year.
“Gold’s rally has support,” UBS chief investment officer Ulrike Hoffmann-Burchardi and her team wrote on Thursday. “We expect gold prices to rise toward USD 5,000/oz in the first half of 2027.”
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© Copyright 2026 – Eurasia Business News. Article no. 3057
Eurasia Business News 