Gold Hits One-Month Peak Amid Soft Dollar and Lower Oil Prices

Gold prices surged to their highest level in a month on Wednesday, climbing 2.4% to $4,175.53 per ounce as investors awaited U.S. jobs data for clues on interest-rate expectations.

The rise was driven by a softer dollar and lower oil prices, which can ease inflation concerns that shape expectations of higher interest rates.

Traders are now pricing in a 59% probability of a Federal Reserve interest rate hike at the central bank's September 15-16 meeting, down from 67% a day earlier.