Gold Hits Highest Since June on Weak Payrolls, Hormuz Deal Hopes
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- Gold climbed to its highest level since June as weak US payrolls data and hopes for a Hormuz deal lifted the metal, per CNBC
- MarketGauge's Schneider told KITCO the rally reflects a growing lack of investor confidence and argued silver could offer bigger gains
- Bloomberg reported gold held steady as traders weighed the Hormuz flare-up's impact on interest rates
Why it matters: With gold hitting a multi-month high on softer US jobs data and Middle East tensions, the metal is being framed by some analysts as a confidence hedge rather than just a momentum trade — a distinction that matters for anyone sizing positions, since Schneider's call points toward silver for amplified upside.
