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Gold inches up as October Fed rate hike prospects fade

During early Monday trading in Asia, gold prices surged due to lackluster US job growth figures. This disappointing employment data notably diminished the Federal Reserve's likelihood of raising interest rates in October, prompting investors to pivot towards safe-haven assets. Spot gold climbed to $4,153.32 per ounce, while silver and platinum also experienced price increases as market reactions unfolded. Economic trends are steering investment behaviors in precious metals significantly.

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Economic TimesLean R·1h ago
Gold inches up as October Fed rate hike prospects fade
During early Monday trading in Asia, gold prices surged due to lackluster US job growth figures. This disappointing employment data notably diminished the Federal Reserve's likelihood of raising interest rates in October, prompting investors to pivot towards safe-haven assets. Spot gold climbed to $4,153.32 per ounce, while silver and platinum also experienced price increases as market reactions unfolded. Economic trends are steering investment behaviors in precious metals significantly.
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Gold inches up as October Fed rate hike prospects fade

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