Gold rose more than one percent on Friday, approaching a two-month high, as the reluctance of major central banks to change interest rates this week increased demand for the safe-haven metal.
And gold rose in spot transactions 1.2 percent to $ 1813.36 an ounce (an ounce) by 1745 GMT, recording an increase after falling 0.3 percent as a result of data showing an increase in employment in the United States more than expected in October.
And US gold futures contracts for December delivery in December settled at 1.3 percent, recording $1816.80 an ounce. The limited reaction to the data proves that “despite the strong labor market report, it will not change what Federal Reserve Chairman Jerome Powell indicated this week.”
The Federal Reserve on Wednesday stuck to its view that inflation will prove “temporary” and likely not require a rapid rise in interest rates. After that, the Bank of England surprised the markets by keeping interest rates on hold.
Among other precious metals, silver rose in spot transactions 1.2 percent to $ 24.05 an ounce. Platinum rose 0.7 percent to $1032.71 an ounce and palladium rose 1.3 percent to $2,025.32 an ounce, both on track to achieve weekly gains.