Spot gold rose 0.7% to $4,057.92 per ounce on Thursday, driven by a combination of softer-than-expected jobs data and declining oil prices.
The precious metal’s advance reflects growing investor caution as market attention shifts toward the upcoming US payrolls report, which is expected to provide critical insights into Federal Reserve policy direction.
The rise in gold comes amid broader risk-off sentiment, with lower oil prices adding to the pressure on commodity markets.
Investors are increasingly turning to safe-haven assets as uncertainty mounts ahead of the key labor market data release.
The juxtaposition of rising gold and falling oil underscores the market’s dual focus on inflation dynamics and economic growth concerns.
This development follows a period of mixed signals from the US labor market, where recent data has shown both strength and vulnerability.