Gold prices advanced on Friday, reaching a record high and posting a strong monthly gain after today's soft inflation numbers boosted US Fed rate cut anticipation.
Front Month Comex Gold for September delivery jumped by $41.90 (or 1.22%) to $3,473.70 per troy ounce today. Gold gained $180.50 (or 5.48%) per troy ounce for this month. Gold prices have been up for two consecutive weeks, hitting a record high today.
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Market Analysis
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.