Gold prices closed higher on Wednesday, July 1, as market participants adjusted their expectations for U.S. monetary policy in the lead-up to the upcoming nonfarm payrolls release.
The move reflects growing uncertainty about the Federal Reserve's next steps, with traders positioning for potential rate cuts if labor market data shows further cooling.
Ghana will begin purchasing 30% of the gold output from large-scale miners starting in July, according to reports from Nairametrics.
The precious metal's resilience comes amid structural supply changes in West Africa.
Ghana will begin purchasing 30% of the gold output from large-scale miners starting in July, according to reports from Nairametrics.
The policy marks a significant shift in the West African nation's approach to its mining sector, potentially tightening available supply on global markets.
Investors are closely watching the upcoming US jobs report for clues on the Fed's trajectory.