Gold on track for first weekly gain in five weeks
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Gold rose more than 1% on Friday and was headed for its first weekly gain in five weeks, as investors' expectations for the Federal Reserve's policy were dampened by weaker-than-expected US jobs data.
Spot gold climbed 1.4% to $4,179.94 an ounce by 02:35 GMT, its highest level since June 23. US gold futures for August delivery also rose 1.6% to $4,193.20. (Reuters)
The precious metal was on track for a 2.3% weekly gain, its first since the week beginning May 25, as weaker-than-expected non-farm payrolls and private-sector jobs data eased concerns about inflation.
Original source: Maaal
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