Gold Surges 2.4% to One-Month High of $4,175.53 Per Ounce
Gold surged 2.4% to $4,175.53 per ounce, its highest level in one month, supported by a softer dollar and lower oil prices as investors awaited US jobs data. Silver, platinum, and palladium also posted significant gains.
Precious metals markets rallied on Wednesday, with gold extending its winning streak to a third consecutive session. Spot gold climbed 2.4% to $4,175.53 per ounce, reaching its highest level since July 7. US gold futures also advanced, rising 2% to $4,235.30. The rally was underpinned by a weaker dollar and declining oil prices, while investors positioned ahead of US employment data expected to provide guidance on the Federal Reserve's interest-rate trajectory.
Broad-based strength characterized the precious metals complex. Spot silver gained 3.8% to $61.76 per ounce, while platinum climbed 2.6% to $1,779.25, its highest level since mid-June. Palladium rose 2.6% to $1,389.15, having touched a two-month high during the session.
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