Gold Heads for Best Week Since January on Soft US Payrolls
Gold prices are on track for their strongest weekly gain since late January following US jobs data that reduced expectations for Federal Reserve interest rate hikes.
Gold prices held steady on Friday, positioning the precious metal for its largest weekly percentage increase since late January. The upward momentum follows the release of US employment data that pointed to a cooling labor market, prompting traders to scale back expectations for aggressive Federal Reserve interest rate hikes.
The shifting outlook on monetary policy has weighed on US Treasury yields and the dollar, enhancing the appeal of non-yielding bullion. Market participants continue to monitor macroeconomic indicators and geopolitical developments for further direction on the interest rate trajectory.
David reports on energy, metals and agricultural markets, tracking how supply signals and safe-haven demand move prices across the commodities complex.
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