(The Epoch Times)—Gold prices broke through a monthly high during the last trading day of the week after a disappointing U.S. employment report showed lower job additions in June.
Spot gold hit a high of $2,393 per ounce on Friday, eclipsing a month-long high of roughly $2,388 hit on June 7. The new high also appeared to have broken the downward trend triggered after gold prices hit a peak of $2,450 in mid-May.
The surge in gold prices came after the U.S. Bureau of Labor Statistics released the latest employment numbers on Friday.
Total U.S. nonfarm payrolls grew by 206,000 last month, lower than that of May. It was also the second-lowest payroll growth this year.
In addition, the agency revised down nonfarm payroll numbers for May by 54,000 jobs and for April by 57,000 jobs. The unemployment rate grew by 0.1 percentage point on a monthly basis and was 0.5 points higher compared to June last year.
Dismal job numbers signaled a potential softening in the labor market, boosting expectations of a Federal Reserve rate cut in the coming months and triggering a rally in gold prices.
According to the World Gold Council’s Mid-Year Outlook report, gold has been one of the best-performing assets so far in 2024. It netted a 12.74 percent gain in the first six months of the year, coming only second to stocks.
WGC predicts gold prices to remain range-bound if current market expectations continue as is, which includes the Fed keeping interest rates between 5.25 to 5.5 percent, a restrained recovery in the economy, the U.S. dollar remaining flat to slightly down, and geopolitical risks continuing to create uncertainty.
“However, there’s a clear path for gold to outperform from here, likely fuelled by Western flows. Conversely, in the event that central bank demand drops drastically, rates remain high for longer and Asian investor sentiment flips, we could see a pullback in the second half,” the group predicted.
Interest Rates and Gold
Investors are now closely watching Fed action on interest rates to determine the likely direction of gold prices. The Fed raised rates from 0.25 percent in March 2022 to a range of 5.25–5.50 percent in July 2023, and rates have remained at that level until now.
The 12-month inflation rate has been above 3 percent for every single month since June 2023, higher than the Fed’s target of 2 percent. This is preventing the Fed from committing to cut interest rates.
During the recent policy-making meeting in June, Federal Reserve officials said that the agency could even raise rates if inflation continued to remain elevated.
Investors estimate that rate cuts could start in a couple of months. According to the CME FedWatch tool, an overwhelming 92.2 percent of interest rate traders expect the Fed to hold the current rates at its upcoming meeting this month, as of July 6 at 7:30 a.m. ET.
A sizable number of traders only expect an interest rate reduction of 25 points in the September meeting.
According to a July 4 post by the research group Economist Intelligence Unit (EIU), gold prices are expected to continue strengthening in 2024-25 as the Fed and the European Central Bank (ECB) reduce interest rates.
“We expect gold prices to remain elevated in 2024, with the price averaging US$2,312/troy oz, up by 19 percent from 2023,” it said. “We forecast that the Fed and the ECB will continue to lower interest rates next year, and therefore expect gold prices to increase further to average US$2,498/troy oz in 2025.”
“Additionally, softer interest rates and safe-haven demand will revive interest in exchange-traded funds (ETFs). We expect net investments in gold ETFs to turn positive this year.”
Three Reasons a Coffee Gift Set From This Christian Company Is Perfect for Christmas
When you’re searching for a Christmas gift that’s meaningful, useful, and rooted in faith, you don’t want to settle for anything generic. This season is filled with noise — mass-produced products, last-minute picks, and trends that fade as quickly as they appear. But one gift stands apart because it blends genuine quality with a message that matters: a coffee gift set from Promised Grounds Coffee.
This small Christian-owned company has become a favorite among believers who want to support faith-driven businesses while giving friends and family something they’ll actually enjoy. Here are three reasons a Promised Grounds Coffee gift set may be the most thoughtful and impactful present you give this year.
1. It’s Truly Delicious Coffee
Too many “gift-worthy” coffees look beautiful in the package but disappoint when the cup is poured. Promised Grounds takes the opposite approach — exceptional taste first, thoughtful presentation second.
Their beans are sourced with care, roasted in small batches, and crafted to bring out a rich, smooth flavor profile that appeals to both casual drinkers and true coffee lovers. Whether someone enjoys bold, dark roasts or lighter, more delicate blends, every sip reflects quality that stands shoulder-to-shoulder with the biggest specialty brands.
Simply put: this coffee is good. Really good. Some say it’s absolutely fantastic. If you want a gift that won’t be re-gifted, ignored, or shoved in a cabinet, this is it.
2. It Spreads the Word While Serving a Real Purpose
There are many Christian gifts that are meaningful… but not exactly practical. There are also useful gifts that have nothing to do with faith. Promised Grounds Coffee bridges both worlds beautifully.
Each gift set delivers an encouraging, faith-centered message through its packaging and presentation — a simple but powerful reminder of God’s goodness during the Christmas season. The cups are especially popular and serve as a daily reminder of the blessings from our Lord. At the same time, the product itself is something people will actually use and appreciate every single day.
It’s a gift that uplifts the spirit and fills the mug. A gift that points loved ones toward Scripture while still being part of the normal rhythm of life. And in a culture that increasingly pushes faith to the margins, giving a gift that quietly but confidently honors Christ can make a deeper impact than you might expect.
3. It’s Affordable, Valuable, and Elegantly Presented
Many people want to give something meaningful without breaking their Christmas budget. Promised Grounds Coffee strikes that perfect balance — the sets look and feel premium, but the price remains accessible.
The packaging is classy, clean, and gift-ready, making it ideal for:
- Family members of all ages
- Co-workers or employees
- Church friends or small-group leaders
- Hosts, neighbors, and last-minute gift needs
It’s the kind of gift that feels more expensive than it is — and more thoughtful than most of what you’ll find on store shelves.
The Perfect Blend of Faith, Flavor, and Christmas Cheer
A coffee gift set from Promised Grounds Coffee checks every box: a gift that tastes amazing, conveys your faith, supports a Christian business, and brings daily enjoyment to the person who receives it. In a season when so many gifts are forgotten, this one stands out for all the right reasons.
If you want a Christmas present that reflects your values and delivers genuine joy, Promised Grounds Coffee is the perfect place to start.
