Inki Cho, financial market strategist at Exness, said that gold appears to be supported by weaker-than-expected US employment reports. The strategist said that the data suppressed monetary policy expectations, and the market currently expects the Federal Reserve to keep interest rates unchanged at the next meeting, thus boosting this precious metal. Higher interest rate environments usually drag down interest-free assets such as gold. He said that in the long run, central bank purchases will continue to support gold.

Inki Cho, financial market strategist at Exness, said that gold appears to be supported by weaker-than-expected US employment reports. The strategist said that the data suppressed monetary policy expectations, and the market currently expects the Federal Reserve to keep interest rates unchanged at the next meeting, thus boosting this precious metal. Higher interest rate environments usually drag down interest-free assets such as gold. He said that in the long run, central bank purchases will continue to support gold.