Gold Holds Steady Amid Stronger Claims Data and Hormuz Talks Easing Haven Appeal

Spot gold edged up to roughly $4,252.60 an ounce for a 0.15% gain, while silver slipped 0.86% to $61.390 as softer labor data and lower Treasury yields offset a firmer dollar and a fading geopolitical premium from Strait of Hormuz negotiations.

The Federal Reserve kept rates at 3.50%-3.75% in a 9-3 vote. July ADP private payrolls rose just 44,000 and initial jobless claims printed at 199,000, beating forecasts. Naeem Aslam of Zaye Capital Markets called the $4,250 area pivotal for reassessing employment and policy outlook.

Iran-Oman talks on Hormuz transit near completion, potentially linked to U.S. port blockade relief. Yen intervention efforts and Friday’s July jobs report stay in focus, with crude near $75.85 and 10-year yields around 4.6%.