Will gold close below $4,050 an ounce before Aug 8?

Gold did not close below $4,050 an ounce at any point before August 8, 2026, resolving the question no. Instead, bullion extended a rally through the first week of August, with futures and spot prices trading above $4,300 on August 7 alone. The metal's climb accelerated after the Bureau of Labor Statistics reported the U.S. economy lost 23,000 jobs in July, a sharp miss versus the roughly 80,000-job gain economists had expected. The weak labor data reinforced bets that the Federal Reserve would hold off on further tightening and could move toward rate cuts, a dynamic that typically benefits non-yielding assets like gold. Gold reached its highest level since early June on the news, having gained more than 10% over the preceding month. The community's forecast was unanimous, with 0% predicting a close below $4,050, matching the actual outcome. The result reflects a broader run-up in gold prices through July and early August driven by persistent rate-cut expectations and safe-haven demand, none of which pointed toward a pullback to the $4,050 level.