Gold prices maintained their position near a two-week high on Monday, buoyed by a cooling outlook for US interest rates following a weaker-than-expected jobs report last week.
The precious metal’s resilience reflects a shift in market sentiment as investors recalibrate their expectations for Federal Reserve policy.
This development follows a significant rally earlier in the week, where gold prices climbed more than 2% on Thursday.
The latest labor market data signaled a softening economy, prompting traders to scale back bets on imminent rate hikes.
This repricing of monetary policy expectations has provided a tailwind for gold, which typically benefits from lower real yields and a less aggressive central bank stance.
The metal’s advance is part of a broader risk-off rotation, with investors seeking safe-haven assets amid growing economic caution.
This development follows a significant rally earlier in the week, where gold prices climbed more than 2% on Thursday.