Gold gained on worries about the US banks as Silicon Valley Bank defaulted, which led to spillover concerns. Some softer than expected data in the US nonfarm payroll report for February also boosted the metal.
Bets on US Federal Reserve rate hike in October fall as job market cools
Last month, the US economy added only 29,000 jobs, significantly below the economists’ forecast of 90,000 jobs. The unemployment rate rose to 4.2%, indicating a