Gold Falls to $4,104, Silver Slides to $59.49 Friday Morning as Hormuz Risk Supports Oil

According to Kitco, spot gold and silver prices declined on Friday morning as traders balanced weak June employment data against the Federal Reserve's recent minutes, steady Treasury yields, and renewed uncertainty in the Strait of Hormuz. Spot gold was trading near $4,104.30, down 0.44%, while spot silver traded near $59.49, down 0.57% on the session.

U.S. payrolls rose only 57,000 in June, about half expectations, with the unemployment rate holding at 4.2%. Although the weaker labor market initially supported gold by reducing Fed tightening expectations, Fed minutes kept inflation risk in focus, leaving traders cautious about adding long positions. The 10-year Treasury yield remained near 4.53%, while the Dollar Index held steady at 100.87. Geopolitical tensions in the Strait of Hormuz, which carries about one-fifth of global oil flows, kept energy prices elevated; Brent crude traded near $77.08 and WTI near $72.73, capping gold's upside through the inflation-yield channel.