(RTTNews) – After ending nearly flat yesterday, gold prices gained momentum on Friday as traders scrutinized U.S. nonfarm payrolls data.
In addition, increasing geopolitical risks due to U.S. control over Venezuela and its threat to Iran and the U.S. Supreme Court’s postponement of its ruling on tariffs renewed the prevailing global economic uncertainty.
Front Month Comex Gold for January delivery advanced by $40.60 (or 0.91%) to $4,490.30 per troy ounce. Notably this week, gold prices skyrocketed by $175.90 or (4.08%).
Front Month Comex Silver for January delivery zoomed by $4.168 (or 5.58%) to $78.884 per troy ounce. This week, silver prices zoomed sharply by $8.3280 or (11.80%).
Today’s data released by the U.S. Bureau of Labor Statistics revealed an increase of 50,000 jobs (below forecasts of 60,000) in December 2025, less than a downwardly revised 56,000 jobs in November. Job additions were seen in food services and drinking places, healthcare, and social assistance, while retail trade lost around 25,000 jobs.
For the full 2025, payroll jobs increased by 584,000, less than the increase of 2.0 million in 2024.
The unemployment rate edged down to 4.4% in December 2025 from a revised 4.5% in November. The number of unemployed fell by 278,000 to 7.50 million while employment increased by 232,000 to 163.99 million.
With the U.S. Federal Reserve set to announce its latest decision on interest rates later this month, analysts feel these mixed numbers could complicate the Fed’s task of balancing recovery with inflation control.
The legality of the tariffs imposed by U.S. President Donald Trump early this year invoking the International Emergency Economic Powers Act is under legal scrutiny by the U.S. Supreme Court. The tariffs were challenged by several business houses and 12 states in the U.S.
The court’s website earlier indicated that it has set today as an Opinion Day on the high-profile case.
Today, the court postponed its decision and is expected to issue its rulings on January 14. For now, the dispute remains unresolved.
After successfully executing a raid to capture, arrest, and airlift Venezuelan President Nicolas Maduro (and his wife) to the U.S., last Saturday Trump announced that the U.S. has “complete access” to the oil reserves in Venezuela.
Trump added that big oil companies would be investing around 100 billion dollars in Venezuela to resurrect its dilapidated oil infrastructures.
The ongoing Russia-Ukraine war escalated, with Russia attacking multiple districts in Kyiv. A ballistic missile hit infrastructure in Lviv in western Ukraine.
Meanwhile, in Belgorod, Russia, a Ukrainian attack on utilities crippled power and water for millions of people.
Late Thursday, Ukrainian President Volodymyr Zelenskyy announced that the terms related to “security guarantee” for Ukraine in the revised peace plan to end the war are now ready for Trump’s scrutiny.
Zelenskyy added that the U.S. would continue to negotiate with Russia to favorably conclude the peace talks.
Days before, Russia expressed disagreement with European troops staying in Ukraine after the ceasefire plan materializes and cautioned that they could become legitimate “combat threats.”
In Iran, the civilian unrest that started in December in Tehran against the Iran’s Supreme Leader Ayatollah Ali Khamenei’s regime is spreading throughout the nation. Clashes between protesters and the security forces have resulted in multiple fatalities.
Trump had already warned that the U.S. would intervene if the regime unleashed violence against peaceful protesters.
The U.S. dollar index was last seen trading at 99.15, up by 0.22 (or 0.22%) today.
Investors are now betting on just a 5.0% (against 11% on Wednesday) chance of a quarter-basis-point interest rate cut at Federal Reserve’s upcoming meeting on January 27-28, according to CME Group’s FedWatch Tool.
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