Gold Ounce Rises After 5 Weeks, Delighting Investors

The price of gold per ounce rose 2.5% last week after U.S. non-farm payroll data came in below expectations. With this increase, gold reached $4,175 per ounce, providing investors with a positive return after five weeks. Markets assess that the weak employment data reduces the likelihood of the U.S. Federal Reserve (Fed) raising interest rates in the near term. This has boosted demand for non-yielding assets like gold, driving prices higher. Analysts note that whether this rally in gold per ounce will continue in the short term depends on Fed monetary policy hints and global economic data. Investors will closely monitor inflation data and central bank statements in the coming period. This is not investment advice.