Gold edges higher, heading for weekly gains

Explore gold prices, which have risen by 0.4 percent. Get more information about current market trends.

Washington, United States – Gold prices edged slightly higher at the start of Asian trading on Friday, continuing a trend toward notable weekly gains.

Meanwhile, investors are holding their breath in anticipation of the crucial U. S. non-farm payrolls report, due later today.

Market participants are looking for fresh signals that could shape the Federal Reserve’s future path regarding interest rates.

Spot gold rose 0.4 percent to $4,103.55 per ounce by 00:23 GMT, heading for a weekly gain of 5.9 percent so far.

Meanwhile, U. S. gold futures for December delivery held steady at $4,112.80.

According to the CME’s “FedWatch” tool, 71% of traders anticipate an interest rate hike in the U. S. this December.

Meanwhile, Goldman Sachs has lowered its gold price forecast for the end of 2026 to $4,150 per ounce, down from its previous projection of $4,650, attributing this adjustment to the Federal Reserve’s hawkish monetary stance.

As for other metals, spot silver rose 0.5% to $52.01 per ounce, while platinum held steady at $1,517.20 and palladium at $1,031.01.

All of these metals are expected to post weekly gains.

From Voice of Emirates