Gold prices moved solidly higher on Friday following weaker-than-expected US jobs data that reinforced expectations of a Federal Reserve rate cut in September along with prevailing weakness in the U.S. dollar.
Front Month Comex Gold for September delivery jumped by $47.40 (or 1.33%) to $3,613.20 per troy ounce today. Notably, gold gained substantially by $139.50 (or 4.02%) per troy ounce this week.
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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.