Spot prices for precious metals experienced notable fluctuations between July 30 and August 1, 2025. Platinum prices declined by 3% to $1,352.45 per ounce on July 30. Gold prices initially fell by 1% to $3,292.78 per ounce the same day, with a slight recovery after the Federal Reserve's decision, stabilizing around $3,303.01 per ounce. However, palladium prices dropped sharply by 5% to $1,194.25 per ounce on July 30. On July 31, gold prices rose by 1% to $3,307.10 per ounce amid market reactions to new global tariffs announced by former President Donald Trump, although weekly declines persisted. Investor focus shifted towards upcoming U.S. employment data, which was released on August 1, showing weaker-than-expected results with significant negative revisions to prior months. This data boosted gold's safe-haven appeal, leading to a nearly 2% increase in spot gold prices to $3,354.45 per ounce. The gold price rise was noted as a market response to the employment report, with prices around $3,340 per ounce following the data release.