Gold traded higher above $4,700 an ounce on Friday as the dollar index struggled around the 98 mark ahead of the U.S. jobs report due later in the day and the CPI report, scheduled for next Tuesday.
Additionally, the U.S. Senate will vote on May 11 to invoke cloture on the nomination of Kevin Maxwell Warsh as the 17th chair of the Federal Reserve.
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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.