Gold is up from seven weeks of weak employment data in the United States and market attention is on the way

Gold prices rose by more than 3 per cent a day, surpassing $4360 per ounce by seven weeks because of weak employment data in the United States. The United States Department of Labor report indicated that the number of non-farm workers fell by 23,000 in July, well below the expected 80,000, leading to a weakening of market expectations for the Fed ' s interest rate hike. The current market is projected to increase interest rates by about 45 per cent in September, down from 57 per cent before publication. The analyst noted that weak employment data had reduced the possibility of the Fed increasing interest rates at the next meeting, and gold was supported as a result。