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Gold Surges As Non-Farm Payroll Data Supports Rate Cut
Gold prices moved solidly higher on Friday following weaker-than-expected US jobs data that reinforced expectations of a Federal Reserve rate cut in September along with prevailing weakness in the U.S. dollar. Front Month Comex Gold for September delivery jumped by $47.40 (or 1.33%) to $3,613.20 per troy ounce today. Notably, gold gained substantially by $139.50 (or 4.02%) per troy ounce this week. Today's price is a new record high for gold, which has moved higher for three consecutive weeks. Front Month Comex Silver for September delivery rose by 16.30 cents (or 0.40%) to $41.074 per troy ounce today. Silver surged ... (full story)