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Gold Surges 2.4% to One-Month High of $4,175.53 Per Ounce

Gold: Gold rose for a third straight session on Wednesday, hitting its highest level in a month, helped by a softer dollar and lower oil prices, while investors awaited US jobs data for clues on the interest-rate outlook. Spot gold was up 2.4% at $4,175.53 per ounce, its highest level since July 7. US gold futures rose 2% to $4,235.30.

According to Qatar News Agency, among other precious metals, spot silver gained 3.8% to $61.76 per ounce and platinum climbed 2.6% to $1,779.25, marking its highest level since mid-June. Palladium rose 2.6% to $1,389.15, after reaching a two-month high.

The recent movements in the gold market were largely influenced by the dynamics of a softer dollar and lower oil prices. These factors often boost demand for gold, as a weaker dollar makes commodities priced in the US currency cheaper for holders of other currencies. Investors are also closely watching US jobs data, which could provide insights into the Federal Reserve's interest-rate outlook, further affecting market sentiments.

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