The precious metals market displayed notable resilience during today's trading session, with gold futures managing to post modest gains despite facing significant headwinds from a strengthening U.S. dollar and hitting the lowest price since Monday early in the session. As of 3:30 PM, the ICE U.S. Dollar Index climbed 0.58% to 97.55.

June payrolls exceed expectations, sending the US dollar higher and precious metals lower.

Thursday's robust June non-farm payroll report significantly altered Federal Reserve policy expectations, creating immediate headwinds for gold markets as stronger-than-expected employment data reduced the likelihood of near-term monetary accommodation.

August gold futures gained $18.80, or +0.56% in trading today fixing a troy ounce at $3368.70. Today’s gains extended the rally to the third consecutive session. The sustained upside momentum suggests that gold could be positioned for additional gains as July trading builds traction.

Gold prices surged as markets price in potential monetary easing amid economic uncertainty. Gold futures pricing closed higher on Tuesday, with the most active August futures contract gaining significant ground to settle at $3,349 .90 per ounce after factoring in today’s net gain of $34.90. After opening at $3315.70 August gold would trade to a high of $3370.50, and a of $3313.70.

Gold futures staged a notable recovery during Monday's trading session, climbing approximately $33 to post a daily gain of 1.02% as of 4:30 PM ET. The precious metal bounced decisively from its session low of $3,250—a level not seen since May 20th—marking a significant reversal from what had been a 27-day trough.

Gold future pricing extended its decline for a second consecutive week, with the August contract falling $56.20 (-1.68%) and fixed at $3,285.10 as of 3:35 PM ET. The weekly fall proved even more severe, with futures tumbling nearly 3% (-2.92%) or $98.90 over the five-day period.

The US Dollar Index (DXY) has experienced unprecedented weakness this week, marking its lowest valuation against major trading partners since February 2022.

Gold markets demonstrated resilience on Wednesday, with the precious metal maintaining steady performance despite a significant shift in investor sentiment away from geopolitical risk considerations toward Federal Reserve monetary policy expectations.

Financial markets experienced a pronounced shift away from defensive positioning Tuesday as traders embraced risk assets following the establishment of a ceasefire between Israel and Iran, effectively ending a 12-day military confrontation that had elevated geopolitical tensions across global markets.

Gold and silver posted modest gains following a significant escalation in Middle East tensions over the weekend, though the market response has been notably restrained given the gravity of recent military actions.