The global gold price continues its upward momentum, with gold rising to $2,360 USD per ounce.
As a result, the precious metal sees its strongest increase in five weeks, as investors increasingly believe that the US Federal Reserve will soon loosen monetary policy.
Furthermore, optimism rises as recent data suggests a slight cooling off in the US economy. This has heightened expectations that the Federal Reserve will soon have to make a decision to ease monetary policy. Following lackluster monthly employment data in the US, the latest report shows that initial jobless claims in the previous week rose higher than expected. After the report, gold prices surged by over 1%, marking their highest level in the past month.
As a result, the precious metal sees its strongest increase in five weeks, as investors increasingly believe that the US Federal Reserve will soon loosen monetary policy.
Furthermore, optimism rises as recent data suggests a slight cooling off in the US economy. This has heightened expectations that the Federal Reserve will soon have to make a decision to ease monetary policy. Following lackluster monthly employment data in the US, the latest report shows that initial jobless claims in the previous week rose higher than expected. After the report, gold prices surged by over 1%, marking their highest level in the past month.
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