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Gold rises as weak US jobs data eases rate hike fears

Gold prices rose more than 1 percent after weaker US employment data reduced expectations of a Federal Reserve rate hike. Despite the daily bounce, bullion remained headed for a weekly loss due to a stronger dollar and high Treasury yields.

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A saleswoman shows gold bangles to a customer at a jewellery showroom in Kolkata, India, May 3, 2022. REUTERS/Rupak De Chowdhuri/File Photo

Gold rose 1.1% to $4,223.49 per ounce on Friday afternoon after weaker-than-expected jobs data eased rate-hike concerns in the United States.
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