Gold prices dip slightly as investors await US jobs data
Gold prices edged lower on Friday but remained on track for modest weekly gains, with investors eyeing US jobs data for interest rate signals.
Gold prices experienced a slight decline on Friday, with investors keeping a close eye on upcoming US jobs data for potential clues about interest rate movements. Despite the minor drop, gold was poised for modest weekly gains as market participants awaited fresh insights into the direction of interest rates from the upcoming nonfarm payrolls report. By 11:37 GMT, the price of spot gold had dropped by 0.1% to $4,467.30 per ounce, while US gold futures followed the trend, falling 0.6% to $4,513.70.
Gold found temporary support after US Federal Reserve Governor Christopher Waller indicated a willingness to maintain interest rates steady in September, contingent upon further evidence of easing inflation pressures. The precious metal's performance was mirrored by other commodities, with silver declining 0.3% to $66.76 per ounce, platinum slipping 1.2% to $1,803.99, and palladium dropping by approximately 1.1% to $1,405.53.
Written by urgent.news from Ajel English's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
