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Gold Nears Best Weekly Rise Since January
Gold prices are approaching their biggest weekly gains since January, supported by falling oil prices and investor expectations regarding US non-farm payroll data. The price of an ounce steadied at around $4,235.57, marking a weekly increase of 4.8%. There is a 55% chance of a Federal Reserve interest rate hike in September, despite ongoing inflation and the Fed maintaining rates between 3.5% and 3.75%. The decline in oil prices helps ease inflation risks, boosting gold's appeal as a safe haven, as the market waits for the upcoming US employment report.
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