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Gold Recovers from Two-Week Low as Investors Position for US Employment Report

Gold prices increased by 0.8% on Friday due to bargain hunting, reaching $3,267.56 per ounce ahead of the U.S. non-farm payrolls report.

Despite this daily gain, gold is down 1.5% for the week, marking its second consecutive weekly decline.

Improved U.S.-China trade relations have increased risk appetite, reducing demand for gold as a safe-haven asset.

However, analysts remain optimistic about gold’s long-term outlook, citing central bank buying, investment demand, and dedollarization trends as supportive factors.

Original Source: Reuters

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