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Expectations of interest rate hikes decline, gold gains 1.9%
The safe-haven asset continues to rise, now trading above $4,350 an ounce. Disappointing U.S. labor market data have reduced expectations of an interest rate hike by the Federal Reserve, while the weakness of the dollar is helping to sustain the precious metal’s momentum.
[Source: Finanza Online]
Gold Continues to Climb: Now Trading Above $4,372 per Ounce
Gold is once again shining in the commodities markets, gaining 3% following the release of the latest U.S. employment data. Downward revisions to hiring figures, combined with growing confidence that the Federal Reserve will refrain from raising interest rates, have boosted demand for the safe-haven asset, pushing gold to its highest level in two months.
[Source: Ansa]
Gold Continues to Rise, Near a Seven-Week High
Gold extended its gains for a fourth consecutive session, supported by reduced expectations of an interest rate hike by the Federal Reserve. The precious metal rose 0.4% to $4,261.98 per ounce.
[Source: Market screener]
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