Eased rate hike outlook boosts gold

Gold prices stabilized near the level of $4,190 per ounce after recording their first weekly gain since May, supported by easing expectations of interest rate hikes by the Federal Reserve, weak US employment data, and declining oil prices. This comes amid reduced prospects of tightening monetary policy, as oil exports resume and supplies increase, easing inflationary pressures and making gold more attractive to investors.

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