Fed Rate Cut Expectations Fuel Gold Price Surge

Gold prices continued their upward momentum this week, maintaining above the $4,300 per ounce mark after a strong increase of more than 7% last week.

The weakening US dollar and expectations that the Federal Reserve will cut interest rates to boost precious metals are supporting gold prices.

The latest US jobs report shows signs of cooling down, reducing expectations of tight monetary policy from the Fed. As a result, gold is benefiting as it does not generate yields like other investments.

However, some investors may take profits after last week's significant increase, leading to potential price adjustments in the near future.