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Gold surpasses $4,263 an ounce
Gold price reached its highest level in seven weeks, rising by 0.58% to reach $4,263.82 per ounce, while futures contracts recorded $4,323. Gold's rise is supported by declining oil prices and Middle East tensions, along with anticipation for the U.S. employment report, which could influence interest rate expectations. Experts expect the $4,000 level to serve as strong support, with the possibility of prices rising to $4,600 as the likelihood of a U.S. rate hike in September decreases. Gold is considered a safe haven amid inflation concerns and market volatility.
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