US Gold Prices Surge to $4,347.88 Amid Weakening Labor Market Signals

Gold prices in the US have reached $4,347.88 per ounce, with a daily move of +$1.11 or +0.03%. This comes as investors weigh softer US jobs numbers, interest rate expectations, geopolitical developments, and central bank purchases. The international benchmark price for gold offered to the US market is approximately $4,344.54 per ounce.

Despite rising demand in Asia, investors are cautious about the impact of weakening labor market signals on monetary policy from the US. Recent reports have highlighted a 30% one-year increase in gold prices, with some predicting further corrections if interest rates rise or the dollar rallies strongly.

The indicative retail price of 24K gold is $142.50 per gram, while 22K and 18K gold are priced at $137.50 and $112.50 per gram respectively. Long-term investors may consider gradual buying to reduce timing risk, while short-term buyers should exercise caution.