Gold rises to $4,227 per ounce

Gold prices rose to $4,227 an ounce after the release of weaker-than-expected U.S. jobs data, with the American economy adding only 29,000 jobs in September compared to forecasts of 90,000. The unemployment rate fell to 4.2%. This data increased expectations that the Federal Reserve may keep interest rates unchanged at its upcoming meeting, with the likelihood of a rate hike in October dropping below 15%, and the probability of a hike in December rising to over 70%. This reflects diminished expectations of rate increases amid signs of a slowdown in the labor market, which supported the rise in gold prices.

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