Gold prices reached their highest level this week, buoyed by market uncertainty ahead of the release of key U.S. jobs data. Spot gold rose 0.6% to $1,980.45 per ounce, while U.S. gold futures advanced 0.5% to $1,982.50. Investors are increasingly positioning themselves amid expectations that employment numbers could influence the Federal Reserve’s interest rate trajectory.
Market participants are watching for signs of labor market resilience, which could signal continued monetary tightening. A softer-than-expected jobs report, however, may bolster gold’s appeal as a safe-haven asset by tempering rate hike fears. With bond yields slightly easing and the dollar retreating, the metal’s momentum appears to be supported for now.
