Gold set for second weekly gain ahead of US job data

05/07/2024 Argaam

Gold soars as US labor data, Fed meeting minutes awaited

Gold bars

Gold prices rose on Friday, heading for their second straight weekly gain, as investors are anticipating the US job data amid slow US labor market indicators.

 

Gold futures for August delivery increased by 0.16%, or $3.7, to $2,373.10 per ounce at 9:10 am Makkah time, adding nearly 1.4% this week.

 

Gold spot prices edged up 0.39% to $2,365.85 per ounce, and Platinum spot prices added 0.82% to $1,009.60.

 

Silver futures for September delivery went up 0.22% to $30.91.

 

Investors are anticipating the monthly US job data, as the world's largest economy is expected to add 188,000 jobs in June, compared to 272,000 in the previous month.

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