Gold Prices Rise to Highest Level in Month

Washington, July 5, - Gold prices rose on Friday to their highest level in a month, following the release of US jobs data that showed a slowdown in the labor market, which supports expectations that the Federal Reserve (the US central bank) will reduce interest rates next September. By 15:08 GMT, gold in spot transactions rose by 1.1 percent and reached USD 2,380.91 per ounce, and US gold futures rose by 0.8 percent to USD 2,389.10. Overall, gold's weekly gains have exceeded 2 percent so far. As for other precious metals, silver rose in spot transactions by 2.3 percent to USD 31.10 per ounce, and is on track to achieve its best weekly gains since May 17, Platinum also increased by 3 percent to USD 1,032.25 per ounce, and palladium rose by 0.8 percent to USD 1,025.75. Source: Qatar News Agency