Unprecedented Gold Prices Following US Jobs Report

In an unexpected turn of events, gold prices have skyrocketed to new heights, reaching an all-time high. This surge comes in the wake of a disappointing jobs report from the United States, which has significantly increased the demand for safe-haven assets like gold.

Trade Tensions Add to Market Uncertainty

Adding to the market's volatility, ongoing trade disputes between the US and China have further fueled the demand for gold. Moreover, the potential imposition of US tariffs on Mexico and Canada after the conclusion of a 30-day extension period has contributed to the prevailing uncertainty in the markets.

Precious Metals Market Overview

At 10:49 am ET, gold saw a 1.01% increase, trading at $2,885.07 per ounce. Similarly, silver experienced a 0.97% rise, selling for $32.58 per ounce. Platinum also witnessed a slight increase of 0.08%, trading at $990.06 per ounce. Conversely, palladium prices dropped by 0.64%, selling for $965.04 per ounce at the same time.