Spot Gold Climbs to $4,100+ This Week as June Nonfarm Payrolls Rise Just 57,000, Below Expectations

According to Kitco News, spot gold rose above $4,100 per ounce during the week of June 30-July 3 after June nonfarm payrolls increased by just 57,000 in June, well below expectations, which eased concerns about an imminent U.S. interest rate hike. The softer employment report pushed the U.S. dollar lower and helped gold extend its rally to $4,143.60, delivering its strongest weekly gain since late May. Spot gold was trading near $4,120 per ounce heading into the Independence Day market closure, with Fed Chair Kevin Warsh's recent commentary suggesting inflation risks have eased.
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