Gold holds above $3,970 as investors await US job data
Gold prices are hanging out above $3,970 an ounce after a recent bump, with traders closely watching US job numbers to guess where interest rates might go next.
Last month saw a modest gain of 42,000 private-sector jobs—enough to break a losing streak but still signaling that hiring is cooling off.
Gold has already jumped over 50% this year
Fed Governor Stephen Miran called the job growth "a welcome surprise," yet he's pushing for bigger interest rate cuts than we've seen so far.
Gold has already jumped over 50% this year thanks to central bank moves, ETF investments, and big central bank buys—but things are choppy.
Meanwhile, the ongoing US government shutdown is delaying key economic data releases and making it harder to read the room.
As for other metals: silver and platinum stayed steady while palladium slipped, all against a backdrop of global uncertainty.