Gold Prices Soar on Strait of Hormuz Optimism and Weak Jobs Report

The gold market may be regaining its luster as the price of spot gold rose to $4,295 an ounce on Thursday, August 6. This marks the highest price gold has sat at since late June.

The stronger gold prices are due to optimism that the Strait of Hormuz may finally reopen soon and a weak ADP jobs report, which could affect how the Federal Reserve positions its interest rate regimen.

An actively managed ETF like the Sprott Active Gold & Silver Miners ETF (GBUG) can help advisors and investors ride the gold train while being ready to react to changing conditions. GBUG leverages Sprott's expertise within the commodities market to provide focused access to companies engaged in gold and silver mining.