Gold jumps 5.9% to $4,103.55/oz ahead of US jobs report
Business
Gold prices are having a moment this week, jumping 5.9% and hitting $4,103.55 per ounce in early Friday trading.
Investors are watching closely because the upcoming US jobs report could shake up what the Federal Reserve does next with interest rates.
Federal Reserve hints at December hike
The US job market is still looking strong: unemployment claims just hit their lowest level in 57 years.
With inflation still a concern, Fed officials are hinting at more interest rate hikes by December (there is a 71% chance, according to CME's FedWatch).
If rates go up, gold could get less attractive since higher rates mean better returns elsewhere.
Meanwhile, it is an interesting time for anyone following the markets or thinking about where to put their money next.