Weaker Dollar Boosts Gold Prices as US Economic Data Falters
Gold prices have surged 9.3% over the past month, driven by weak US economic data that pushed the dollar to its lowest level in three months.
The US payrolls fell by 23,000 in July, and consumer spending and inflation softened, reducing expectations for a Federal Reserve rate hike.
The dollar weakened, boosting gold to around $4,407 per ounce. Bitcoin saw a slight decline, trading near $63,572.