Gold Reaches New Heights Following US Jobs Report

In a surprising turn of events, the price of gold has surged to an all-time high. This remarkable increase comes in the wake of a weaker-than-expected jobs report from the United States, which has significantly boosted the demand for safe-haven assets like gold.

Impact of Trade Tensions on Precious Metals

Adding to the market's volatility, ongoing trade tensions between the US and China have played a crucial role in this development. Furthermore, the looming possibility of the US imposing tariffs on Mexico and Canada, following the end of a 30-day extension period, has only added to the uncertainty, driving investors towards precious metals.

Market Movements at a Glance

At 10:49 am ET, gold was observed to have increased by 1.01%, selling for $2,885.07 per ounce. Silver also saw a rise, going up by 0.97% to $32.58 per ounce. Platinum added 0.08%, exchanging for $990.06 per ounce a minute later. However, palladium experienced a slight drop of 0.64%, selling for $965.04 per ounce at the same time.