Gold Rises as Cooling US Employment Data Backs Rate Cuts
Gold prices surged to a six-week high following US employment data suggesting a slowdown in the labor market, which strengthened expectations for forthcoming interest rate cuts. Bullion rose by 1.4% to $2,389.35 per ounce in New York by 1:30 p.m. on Friday, driven by reports from the US Bureau of Labor Statistics indicating subdued hiring and wage growth in June, alongside a slight increase in … Continue reading Gold Rises as Cooling US Employment Data Backs Rate Cuts
