Gold news by day
What moved it
The verdicts are the textbook reading of the news, not a forecast. Closing prices are spot gold at about 5pm New York time, from our price feed, and may differ slightly from other sources.
Netanyahu is pushing for another round of strikes on Iran, the Wall Street Journal reports.
Why: Israeli strikes on Iran can disrupt oil supplies from the Gulf region. That oil fear keeps US borrowing costs elevated, which gold doesn't like.
Gold $4,072.10 (Friday's close)
Markets closed, reopen Sun 23:00 UK
🕒 Sat 07 Nov · news 00:30 UK
Trump confirms more US strikes on Iran as midterm election results cause political trouble
Why: Trump has confirmed more strikes on Iran. Attacks there threaten Gulf oil supply, keeping US rates high, which hurts gold.
Gold $4,072.10 (Friday's close)
Markets closed, reopen Sun 23:00 UK
🕒 Sat 07 Nov · news 05:03 UK
A tanker has caught fire in the eastern Strait of Hormuz, Iran's navy reports
Why: A tanker burning in the Strait of Hormuz can drive up oil prices. Higher oil means more inflation pressure, giving the Fed reason to keep rates elevated, which is bad for gold.
Gold $4,072.10 (Friday's close)
Markets closed, reopen Sun 23:00 UK
🕒 Sat 07 Nov · news 10:00 UK
🪙 Gold this week
About $3,875 to about $4,065 by late Friday.
It started from a 1-year low on Fri 30 Oct.
Cheaper oil and a weaker dollar did most of the lifting.
Week's high: about $4,148 on Thu 5 Nov.
📰 The big moves
• 🟢 Bullish: Mon, Iran offered, with conditions, to reopen the Hormuz oil route. Oil sank.
• 🔴 Bearish: Tue, US job openings (JOLTS) jumped to 7.52 million. More reason to raise.
• 🟢 Bullish: Wed, Democrats won both houses of Congress. The dollar fell, gold jumped over 3%.
• 🟢 Bullish: Thu, US stocks had their worst day since April 2025. Bets on a Fed rise eased.
• 🔴 Bearish: Fri, the US jobs report beat forecasts by about 100,000. Rate-rise bets went up.
🧭 How gold reacted
🔥 = how big the news was
Fri US jobs report (NFP) 🔥🔥🔥 🔴 bearish
165,000 new jobs vs 65,000 expected.
Around 13:30 UK / 8:30 New York, gold fell about $27.
Textbook reaction. By late Friday, gold had recovered most of it.
💡 Week's lesson
Oil fear easing helped gold, not hurt it.
Cheaper oil means less pressure on prices, so the Fed has less reason to raise.
The jobs beat pushed the other way, but the dip didn't last.
Iran's Revolutionary Guards say two oil tankers hit mines near the Strait of Hormuz
Why: Two tankers hitting mines near the Strait can tighten oil supply from the Gulf. That oil-driven inflation risk keeps the Fed leaning toward higher rates, which weighs on gold.
Gold $4,072.10 (Friday's close)
Markets closed, reopen Sun 23:00 UK
🕒 Sat 07 Nov · news 21:11 UK
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