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Gold prices rise to one-month high after U.S. jobs report

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Gold prices rise to one-month high after U.S. jobs report

Gold prices edged up on Friday and were set for a second straight weekly gain, while traders awaited U.S. employment data to gauge the trajectory of the Federal Reserve’s potential interest rate cuts.

Chris Ratcliffe | Bloomberg | Getty Images

Gold prices extended gains on Friday to their highest level in a month following key U.S. jobs data the showed labor market was softening, lifting expectations around a Federal Reserve interest rate cut in September.

Spot gold was up 152% at $2,392.02 per ounce. Bullion is up nearly 2% for the week so far. U.S. gold futures gained 1.23% to $2,398.50.

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