Gold rose after U.S. July payrolls fell by 23,000. The weaker jobs report cooled expectations of Federal Reserve rate hikes. Prices climbed above $4,300, marking a seven-week high.

Iran declined to hold a U.S.-led bilateral meeting in Doha, dimming hopes for a Middle East ceasefire. The move marked a sudden diplomatic breakdown rather than a routine statement. Markets reassessed the security of energy shipments along the Red Sea–Persian Gulf corridor, pushing oil prices higher in the short term. The report pointed only to upward pressure on crude, without citing other assets.