GOLD HOLDS FIRM AHEAD OF KEY US JOBS REPORT

Published on Sep 05, 2024 14:20

Gold remained around $2500 per ounce on Thursday, with investors awaiting Friday�s US jobs report for more insights into potential Federal Reserve rate cuts. Traders now await key jobless claims and employment data for further clarity on the labor market. A sharp drop in JOLTS job openings to 2021 lows has bolstered expectations for a 50 basis point cut this month, alongside weak US factory data from the ISM PMI. A softer US dollar, trading near 101.2, also lifted silver and other dollar-denominated commodities. MCX October bullion prices jumped more than Rs 500, hitting the session high of Rs 71934 so far today.