Gold prices gained modestly on Friday, reaching a new record high as expectations of interest rate cuts by the US central bank keep increasing day after day amid geopolitical tensions in the European Union and Middle East.
Front Month Comex Gold for September delivery rose by $12.50 (or 0.34%) to $3,649.40 per troy ounce today. Notably, this is a new record high for gold. Gold gained $36.20 (or 1.00%) 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.