Gold set for first weekly rise in five
Gold prices rose by over 1%, marking the first weekly gain in five weeks, due to the decreased expectations of the Federal Reserve (the U.S. central bank) raising interest rates after weaker-than-expected U.S. employment data. Spot gold traded at $4,179.94 per ounce, while futures increased to $4,193.20, with the dollar declining, which helped reduce the cost of gold priced in other currencies. Other precious metals such as silver, platinum, and palladium also saw significant gains, reaching their highest levels in over a week.
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