Gold extends rally as weak jobs data fuels hopes for fed rate cut
ALBAWABA- Gold prices climbed for the fourth consecutive session on Monday, buoyed by a weakening U.S. dollar and falling Treasury yields, after disappointing U.S. jobs data increased expectations of an interest rate cut by the Federal Reserve in September. Also Read Russia ends missile moratorium amid escalating tensions with U.S.
Spot gold rose by 0.1% to $3,375.89 per ounce, while U.S. gold futures also edged up 0.1% to $3,430.40. The yield on the benchmark 10-year U.S.
Treasury note dropped to its lowest level in a month, further supporting gold's upward momentum. — Gaurav Trades✨📊 (@Gaurav_faxxuusd) August 5, 2025
Among other precious metals, spot silver gained 0.1% to reach $37.44 an ounce. Platinum added 0.1% to trade at $1,330.31, and palladium advanced 0.2% to $1,204.25 per ounce.
The combination of weaker economic indicators and shifting investor sentiment toward a possible rate cut has continued to strengthen demand for safe-haven assets like gold.
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