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American Focus > Blog > Economy > Gold opens above $3,400 after labor data revision
Economy

Gold opens above $3,400 after labor data revision

Last updated: August 4, 2025 2:40 pm
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Gold opens above ,400 after labor data revision
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Gold (GC=F) futures kicked off the week with a strong opening price of $3,416.60 per ounce on Monday, marking a 2.1% increase from Friday’s closing price of $3,347.70. This is the first time gold has opened above $3,400 since July 23, 2025. The surge in gold prices follows the release of revised employment data, which revealed a downward revision of 258,000 new jobs in May and June, with only 33,000 jobs added in those months. July saw an increase of 73,000 jobs, bringing the average monthly employment growth since May to about 35,333, the lowest since the pandemic. Businesses have reportedly put growth initiatives on hold due to uncertainty surrounding President Trump’s economic policies, driving up demand for gold as a safe haven asset during times of economic uncertainty.

Gold futures have seen a steady climb in the past week, with Monday’s opening price representing a 2.7% increase over the opening price of $3,326.60 on July 28. Over the past month, gold futures have gained 1.6% compared to the opening price of $3,362 on July 3, 2025. Year-over-year, gold has surged by 39.8% from the opening price of $2,444 on August 2, 2024.

Investing in gold can be a strategic move to diversify a portfolio and protect against inflation and economic instability. Gold has historically shown its ability to hold its value or increase in value when other assets are declining. As a widely recognized store of value, gold can serve as a hedge against calamity and a potential medium of exchange in the event of a currency collapse.

Analysts are bullish on gold, with Goldman Sachs Research predicting a price target of $3,700 per troy ounce by the end of 2025, representing a 40% increase from the opening price of $2,633 on January 2. Rising demand from central banks and uncertainty surrounding U.S. tariff policies are driving factors behind the projected increase in gold prices.

See also  Coinbase applies for federal trust banking license, says 'we have no ambitions to be a bank'

For those interested in tracking the historical value of gold, Yahoo Finance provides a comprehensive historical price chart dating back to 2000. Whether you’re considering investing in gold for diversification, inflation protection, or wealth preservation, understanding your goals and investment timeline is crucial in navigating the fluctuations of the precious metal market. Gold’s long-term value and stability make it a valuable asset to consider in a well-rounded investment strategy.

TAGGED:DataGoldLaboropensrevision
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