Gold in a week…a price jump and a trend to record gains

Gold rose by more than one percent at the end of yesterday, Friday, with a trend to record the first Weekly gains in five weeks, amid declining investor expectations for the Federal Reserve to raise interest rates following the release of US employment data that was weaker than Estimates.

Gold rose in spot transactions 1.4% to $4,179.94 per ounce, recording its highest level since June 23, and US gold futures contracts for August delivery also increased 1.6% to $4,193.20.

Gold prices jumped today, Thursday, supported by weak US jobs data issued today, which came below expectations, and a drop in oil prices.

The price of gold in spot transactions rose by 2.2% to 4120 $an ounce, by 14:18 GMT, and gold futures in the United States rose 1.1% to $4,128 per ounce.

RiseWednesday, in spot transactions, rose 2.1% to $4,089.49 per ounce (ounce) by 13:55 GMT, after recording its lowest level since November in the previous session.
US futures rose August delivery fell 1.6% to $4,103.10.

Gold prices last Monday, with Oil, which raised concerns about inflation, and strengthened expectations for a rise in interest rates.

And Gold in spot transactions rose 1.03% to $4,045.95 per ounce, after hitting its lowest level in more than 7 months last week.