Weak U.S. Jobs Report Boosts Gold Prices As Many Speculate About Fed Rate Cuts Gold prices rose on Monday due to a weakening U.S. dollar, following a disappointing U.S. jobs report that raised the possibility of the Federal Reserve cutting interest rates. Spot gold increased by 0.8% to $2,320.33 per ounce, while U.S. gold futures rose by 0.9% to $2,329.10. The underwhelming job growth and slowing wage increases suggest room for potential rate reductions by the Fed in 2024, according to Ricardo Evangelista, a senior analyst at ActivTrades. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Japan Sounds the Alarm on Yen's Speculative Tumble Amidst Rising U.S. Inflation READ MORE Gold's Unpredictable Dance with Interest Rates: Morgan Stanley Reveals a Weakening Bond READ MORE Powell Dismisses Stagflation Fears READ MORE Saudi Arabia Officially Joins BRICS READ MORE UBS Analysts: Gold Market Not Overextended Despite Record Prices READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment