Spot gold prices climbed 1.3% to $4,127.04 per ounce on Wednesday, marking a third consecutive session of gains.
The precious metal’s advance was bolstered by a weakening US dollar and a pullback in oil prices, which reduced inflationary pressures and supported the case for monetary easing.
8% to $4,184.40. The rally reflects a market in wait-and-see mode, with investors positioning ahead of the upcoming US non-farm payrolls report.
US gold futures followed suit, rising 0.8% to $4,184.40.
The rally reflects a market in wait-and-see mode, with investors positioning ahead of the upcoming US non-farm payrolls report.
Employment data will provide crucial clues on the Federal Reserve’s interest-rate outlook, particularly as traders assess whether the central bank will maintain its current stance or pivot toward further cuts.
A softer jobs print could accelerate the dollar’s decline and provide additional tailwinds for gold, while stronger-than-expected data might temper safe-haven flows.