Gold exceeds $4,000 after 4% rise

Gold prices have risen by more than 4% to reach approximately $4,200 per ounce, their highest level since June 18. This increase was driven by a decline in geopolitical tensions and weak U.S. labor market data, which in turn heightened expectations that the Federal Reserve may adopt a less aggressive approach to monetary policy. Additionally, positive talks between the United States and Iran continued, and oil prices declined by about 10% over the week, easing inflationary pressures and reducing the likelihood of interest rate hikes in September. However, some Federal Reserve officials believe that further tightening may be necessary to bring inflation back to the target level.

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