Gold steady amid US jobs data and rate outlook

Gold prices settled today after weaker-than-expected U.S. employment data helped ease fears of interest rate hikes, leading to an unexpected rise in the metal. Spot prices jumped by 1.1% to around $4,171 per ounce, while futures increased by 1.4% to approximately $4,182, marking their first weekly gain in five weeks after significant declines in the second quarter. The weak data from the U.S. labor market contributed to reduced expectations of rate hikes by the Federal Reserve, resulting in a decline in the dollar and a rise in gold and precious metals.

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