Gold Reaches New Highs
Gold prices have risen to their highest level in 8 weeks, supported by weak U.S. labor market data and expectations of ongoing gains for the precious metal. Spot gold increased by 0.9% to reach $4,379.46 per ounce, while futures prices stood at $4,439.7. There are forecasts that the price per ounce could reach $5,000 in the first half of 2027, driven by increased demand from central banks and investors amid declining prospects of U.S. interest rate hikes following a drop in July employment figures and inflation stability expectations. Gold prices remain heavily dependent on the Federal Reserve's interest rate policies, with experts predicting that prices may surpass the January 2023 peak of $5,589 per ounce.
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