Gold and Silver Dip as Hormuz Risks Hold Yields Steady

Gold and silver prices edged modestly lower Friday morning amid mixed U.S. jobs data and geopolitical tensions around the Strait of Hormuz. Spot gold traded near $4,104.30 per ounce, down 0.44%, while silver stood at $59.49, off 0.57%. Trading ranges were $4,093.70-$4,135.50 for gold and $59.15-$60.89 for silver.

June payrolls rose only 57,000, half the expected figure, with unemployment steady at 4.2% and prior months revised down by 74,000. Softer hiring initially aided metals, yet Fed minutes kept inflation in focus, holding the 10-year Treasury yield near 4.53% and the dollar index around 100.87. Hormuz risks supported oil at $77.08 for Brent and $72.73 for WTI.

Traders now watch the next CPI print and any shipping developments. Technically, gold resistance sits at $4,135.50 and $4,162.36, with support at $4,093.70. Silver resistance is $60.89 and $63.28, support at $59.15.