Gold prices hit fresh record highs on Friday after a soft U.S. jobs report cemented hopes of a Federal Reserve interest rate cut, fuelling fresh momentum for bullion's blistering rally. Spot gold was up 0.9% at $3,577.33 per ounce, as of 12:34 GMT. Prices hit a record high of $3,582.71 and were up 3.7% so far this week. U.S. gold futures for December delivery rose 0.9% to $3,637.00. Data showed that U.S. job growth weakened sharply in August while the unemployment rate increased to 4.3%, confirming that labor market conditions were softening and sealing the case for an interest rate cut...
Gold price rallies sharply and hits a new all-time high of $3,600 on Friday, following a soft Nonfarm Payrolls report, which raised speculation that the Federal Reserve (Fed) is ready to resume rate cuts. XAU/USD trades at $3,594, up 1.30% at the time of writing. Gold jumps 1.30% as weak NFP data sinks yields, Dollar, and boosts speculation of larger Fed easingThe awaited jobs report in the US vindicated Fed Governor Christopher Waller, who said that the labor market had been showing some cracks since late July 2025. The data missed the mark by a bunch, the Unemployment Rate rose and...
Oil prices fell on Friday as a weak U.S. jobs report dimmed the outlook for energy demand, while swelling supplies may grow further after OPEC and allied producers meet over the weekend. Brent crude futures settled at $65.50 a barrel, down $1.49, or 2.22%. U.S. West Texas Intermediate crude finished at $61.87, down $1.61, or 2.54%. On Wednesday, Reuters reported that eight OPEC+ producers will consider raising production further at a meeting on Sunday. U.S. crude inventories rose 2.4 million barrels last week, rather than falling as analysts expected. U.S. nonfarm payrolls increased by...