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 Experts' Inflation Consensus Shifts, Altering Election Dynamics READ MORE Gold Soars to New Heights as Markets Await Powell's Jackson Hole Address READ MORE Fed Officials Debate Future of Goods Price Declines Amid Inflation Fight READ MORE Tech Titans Propel S&P 500 to Unprecedented 5,600 Milestone READ MORE Countries at Climate Risk Face Soaring Debt Payments, Report Reveals READ MORE Add a Comment Cancel replyYour email address will not be published.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