Gold rose to around $3,550 per ounce on Friday, near record levels and on track for a weekly gain of over 3%, supported by expectations of lower US interest rates and safe-haven demand. A drop in job openings, higher-than-expected layoffs, and initial jobless claims reaching a two-month high have led markets to largely price in a September rate cut.Traders are now betting on up to three cuts this year, which would benefit gold, as lower interest rates reduce the opportunity cost of holding non-yielding assets. Investors are now awaiting the US nonfarm payrolls report for a broader view of...
Silver climbed to around $41.8 per ounce on Friday, holding near its strongest levels since 2011 as signs of a cooling US labor market reinforced expectations for a Federal Reserve rate cut. The latest ADP report showed private payrolls rose just 54K in August, well below forecasts, while jobless claims reached their highest since June, pointing to further weakness. Investors now await the August jobs report due later today, expected to cement bets on a near-term Fed move. Markets are pricing in nearly 100% odds of a 25 basis point cut on September 17.Safe-haven demand also underpinned...
Gold prices edged higher on Friday (September 5th) and were on track for their best weekly gain in three months, as expectations of a Federal Reserve interest rate cut boosted bullion's appeal and investors awaited US non-farm payrolls data due later today. Spot gold rose 0.1% to $3,548.49 an ounce, as of 09:34 GMT. Bullion has gained 3% so far this week. US gold futures for December delivery were steady at $3,605.10. US jobless claims rose more than expected last week, while the ADP National Employment Report showed private payrolls grew less than expected in August, both further signs of...
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...