Gold prices rise to one-month high after US jobs report

July 05, 2024 / 8:50 PM

Sharjah 24 – BNA: Gold prices extended gains on Friday to their highest level in a month following key U.S. jobs data that showed the labour market was softening, lifting expectations around a Federal Reserve interest rate cut in September.

Spot gold was up 0.7% at $2,371.58 per ounce as of 09:05 a.m. (1305 GMT). Bullion is up nearly 2% for the week so far. U.S. gold futures gained 0.4% to $2,379.70, Reuters reported.

Spot silver rose 0.9% to $30.66 per ounce and is on track for its best week since May 17. Platinum rose 1.8% to $1,020.63 per ounce and palladium gained 0.3% to $1,020.28.