Gold Hits $4,187, Silver Surges 7% to $62, Narrowing Gold-to-Silver Ratio to 66.9 on July 3-4

On July 3, gold climbed to $4,187 per ounce, extending gains to roughly 2.1% from June 30 lows near $4,012. Silver surged 7% to over $62, outpacing gold's advance and tightening the gold-to-silver ratio to 66.9. The rebound followed weak U.S. jobs data released on July 3, which showed nonfarm payrolls rose just 57,000 in June versus economist forecasts of 110,000. Traders cut the probability of a September Federal Reserve rate hike from around 66% to 53-54%, according to the CME Fedwatch Tool, as weaker dollar strength and lower real yields supported both precious metals.
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