Gold prices increase on Thursday, reaching their highest level since June as markets weigh hopes for a deal involving the Strait of Hormuz alongside softer U.S. economic data. Spot gold briefly moves above $4,300 per ounce before trimming gains to trade around $4,268 per ounce. CNBC reports spot gold peaks near $4,295 per ounce earlier in the session before paring back. Gold futures are quoted higher than spot, with CNBC placing them around $4,329 per ounce, while NDTV cites futures at about $4,294.07 per ounce at approximately 9:25 pm. The rise is also linked to weak U.S. jobs data, which influences expectations for Federal Reserve policy, with traders adjusting their assumptions about the timing and pace of any potential hikes. Across the outlets, the key drivers cited are geopolitical-deal expectations related to the Hormuz region and the impact of U.S. payroll results on rate expectations, both of which support demand for gold during the session.