Gold prices surged by as much as $200 from their daily low! Should we continue to go long or go short?

· US ADP employment figures for July came in at 44,000, below market expectations of a 70,000 increase and June's revised 95,000, marking the smallest increase since January. This news is bearish for the US dollar. · According to Business Insider, Anthropic has confirmed it is assembling an in-house chip team for Claude. This news is positive for the South Korean KOSPI index. · Iran is seeking to charge ships transiting the Strait of Hormuz a fee of 5% to 7% of the value of their cargo, while Oman is pushing for a 3% fee. This news is bullish for gold and crude oil.

TOPONE Markets Analyst

2026-08-06 08:30:00