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Gold approaching largest weekly rise since January
Gold prices held steady yesterday, Friday, near their recent highest levels, registering a weekly gain of about 4.8%, the largest since January. This was supported by a decline in oil prices and investors awaiting the U.S. employment data to be released today, which will help determine the future direction of interest rates. The U.S. labor market results are expected to influence the Federal Reserve's monetary policy stance, as investors watch the prospects of interest rate hikes or cuts, especially amid ongoing economic and geopolitical uncertainties, such as the recent statements by the U.S. president regarding the war with Iran.
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