Gold hits seven-week high as weak US jobs data dents rate hike bets

Gold hits seven-week high as weak U.S. jobs data dents rate hike bets

Gold prices reached a seven-week high on Friday owing to surprising job losses in the United States that lowered the likelihood of upcoming rate hikes. This trend puts gold on track for its best weekly gain in seven months, as reduced interest rates boost its allure over yield-producing investments. Additionally, silver and platinum prices witnessed notable rises.