Gold heads for best week since January as investors await US jobs data

aawsat.com (Arabic)

Gold prices rose Friday, heading for their biggest weekly gain since January, supported by falling oil prices as investors awaited US nonfarm payrolls data. Spot gold rose 0.6% to $4,262.39 an ounce after hitting a seven-week high Thursday, with weekly gains exceeding 5%. US futures climbed 0.5% to $4,321.50. Falling oil prices and Middle East peace hopes cooled inflation expectations, supporting the metal. President Trump said he believes the war with Iran will end soon. The US jobs report is due at 12:30 GMT. An analyst said $4,000 remains strong support, with a possible rise toward $4,600.


With a significance score of 1.1, this news ranks in the top 55% of today's 33251 analyzed articles.

Get summaries of news with significance over 5.5 (usually ~10 stories per week). Read by 10,000+ subscribers: