Gold heads for weekly gain as weak US jobs data tempers rate hike bets

Gold prices surged on Friday, poised for a weekly gain after a disappointing U.S. jobs report significantly lowered expectations for an imminent Federal Reserve interest rate hike. This development makes non-yielding assets like gold more attractive. The U.S. dollar also weakened, further boosting gold’s appeal for international buyers. Central banks continue to be a key demand driver for the precious metal.

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