The Economic Times
13h ago
Gold set for first weekly gain in five as Fed September hike odds drop to 54%
U.S. nonfarm payrolls rose by 57,000 in June, well below the 110,000 expected. Following the data, market pricing for a Federal Reserve rate hike in September fell to 54% from 66%. Spot gold gained 0.5% to $4,144.83 an ounce, the highest since June 23, and was on track for a 1.2% weekly rise—its first in five weeks. Silver, platinum and palladium also advanced, each headed for weekly gains.