Gold rebounds with 1.4% increase

The decline in expectations of interest rate hikes in the United States led to a more than 1.4% increase in the gold price, reaching its highest level since June 23. It is on track to achieve its first weekly gain in five weeks, amounting to 2.3%. This comes after the release of weaker-than-expected U.S. employment data, which caused the dollar to decline and reduced the appeal of yield-bearing assets. Additionally, other precious metals saw notable increases, reaching levels not seen in over a week.

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