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Gold prices rise 0.86 per cent as weak US data lifts demand
Gold prices rose 0.86 per cent weekly as weaker US economic data strengthened expectations of steady Federal Reserve interest rates. MCX gold and silver also gained, while crude oil remained volatile amid Middle East tensions and developments around the Strait of Hormuz
GlobeSignal-AImedium certainty
- Why it matters
- Weaker US economic data reduces the likelihood of rate increases, making gold more attractive since it does not pay interest and benefits when rates stay low.
- Most affected
- Gold investors and traders — Holdings gained 0.86 per cent in value over the week.
- Likely next
- Whether US economic data continues to weaken or stabilises, affecting expectations for Federal Reserve rate decisions.
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