Gold set for weekly gain as markets await US payrolls data
GLD•Spot gold rose 0.4% to $4,103.55 an ounce and was on track for a 5.9% weekly gain as investors awaited US payrolls data for clues on the Federal Reserve’s rate path.
GLD•GLD•GLD•Spot gold rose 0.4% to $4,103.55 an ounce and was on track for a 5.9% weekly gain as investors awaited US payrolls data for clues on the Federal Reserve’s rate path.
Spot gold rose 0.4% to $4,103.55 per ounce by 0023 GMT on Friday, remaining on track for a 5.9% gain so far this week. US gold futures for December delivery steadied at $4,112.80.
The US non-farm payrolls report was due at 1330 GMT. Traders saw a 71% chance of a Federal Reserve rate increase in December, while Goldman Sachs lowered its end-2026 gold price forecast to $4,150 per ounce from $4,650, citing the Fed’s more hawkish policy stance.
