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Gold rises as U.S. rate hike outlook dims
Gold prices rose today, Thursday, following the release of the June U.S. jobs report, which showed a slowdown in job additions that was less than expected. This contributed to a decrease in the likelihood of the Federal Reserve raising interest rates, dropping to around 51% from 66%. Spot gold surged by 2.4%, reaching $4,126.75 per ounce, while futures increased by 1.45% to $4,142.42. The rise in the yellow metal is attributed to market indicators showing less concern about rate hikes, amid ongoing inflation worries and the effects of oil prices and monetary policy.
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