Gold gains as U.S. rate hike prospects fall

Gold prices rose in Asian trading to achieve their first weekly gains in five weeks, following a decline in expectations of a U.S. interest rate hike. Spot gold increased by 1.4% to reach $4,179.94 per ounce, while August futures rose by 1.6% to $4,193.20. This upward movement comes amid weak jobs data and easing inflationary pressures, along with a decline in the dollar, which boosted the attractiveness of gold.

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