Gold Prices Rise Amid US Non-Farm Payroll Anticipation

Gold prices rose on MCX and in the US as investors awaited the closely watched US non-farm payroll report. On August 7, gold traded higher, with August futures rising 0.5% to Rs. 1,49,608. September silver futures advanced 1.09% to Rs. 2,28,300.

Brent crude futures rose 1.83% to $84 per barrel, while US West Texas Intermediate (WTI) edged higher by 1.67% to $78.58 per barrel. Domestic gold prices saw a rise in 24K and 22K gold, with the former advancing Rs. 16 to Rs. 1,49,890 per 10 grams.

US gold prices also firmed up on Friday, with spot gold up 0.6% at $4,262.39 per ounce. U.S. gold futures gained 0.5% to $4,321.50. The key levels to watch were discussed by Simpson, who mentioned that regardless of the NFP outcome, $4,000 has proven to be a solid support level.