Gold eyes best week in five months ahead of US jobs data

WORLD CAPITALS, 8th March, 2024 (WAM) -- Gold prices were poised for their biggest weekly jump in five months on Friday, hovering near a historic high, as Federal Reserve Chair Jerome Powell's remarks cemented mid-year rate cut bets, ahead of a key jobs report later in the day.

Spot gold was little changed at $2,157.16 per ounce, as of 0350 GMT, hovering around a record peak of $2,164.09 hit in the previous session.

According to Reuters, US gold futures were flat at $2,164.40.

Spot platinum fell 0.3% to $916.30 per ounce, silver fell 0.1% to $24.29, while palladium rose 0.5% to $1,039.17. All three metals were poised for a weekly gain.