Gold Prices decline over 1 percent
Gold prices fell by more than 1.2% in today's trading, heading towards a weekly loss. This decline came after US jobs data exceeded expectations, boosting the likelihood of the Federal Reserve (the U.S. central bank) raising interest rates at its meeting scheduled for mid-September. The spot price of an ounce dropped to approximately $4,419, down more than 2% during the session to a low of $4,365. Additionally, December futures contracts declined by 1.4%. Other precious metals also experienced declines, with silver down 1.7% at $65.83 per ounce, platinum down 0.8% at $1,810.96, and palladium decreasing by 2.5% to $1,385.50.
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