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Gold prices up, jobs lower than expected

ByVictoria

Gold prices edged up on Friday, poised for a weekly gain on safe-haven inflows and a U.S. jobs report revealing lower than expected job growth in February, suggesting the Federal Reserve is on track to cut interest rates this year.

Spot gold added 0.3% to $2,918.11 an ounce as of 09:24 (1424 GMT). Bullion has gained over 2% so far this week, as U.S. President Donald Trump’s ever-shifting tariff policies fanned uncertainty.

“Weaker than expected number is giving gold a slight boost… also a weaker dollar for the week right now is helping,” said Bob Haberkorn, senior market strategist at RJO Futures.

Spot silver fell 1% to $32.28 an ounce and platinum shed 0.1% to $965.58, while palladium edged 0.5% up to $946.

Source – Reuters

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    Weak dollar, gold up nearly 1%

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    US Treasury Secretary Scott Bessent offered support for Jerome Powell amid regular attacks from President Donald Trump, saying he sees no reason for the Federal Reserve chair to step down. Trump has maintained his criticism of the Fed chief and stressed his belief that the central bank’s benchmark rate should be 3 percentage points lower.  

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    WGC gold EFT inflows at an all-time peak

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    Bullion-backed exchange traded funds (ETFs) reported returning net inflows last month, meaning half-year flows reached levels not seen for five years, data from the World Gold Council (WGC) showed.

    Total holdings rose by 75 tonnes last month, the WGC said, to 3,616 tonnes. This was the highest for 34 months.

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    Gold prices rallied above $3,100 per ounce for the first time on Monday, on course for its biggest quarterly gain in over 38 years, as global tariffs and geopolitical tensions push investors toward safe-haven bets.

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