Gold heads for first weekly rise in five on easing Fed rate hike bets

Gold prices surged on Friday, marking its first weekly gain in five weeks. This uptick is attributed to softer-than-expected U.S. jobs data, which has led investors to scale back expectations of further Federal Reserve interest rate hikes. The weaker payroll numbers have eased inflation concerns, boosting bullion's appeal. Other precious metals like silver, platinum, and palladium also saw gains, contributing to a positive week for the sector.

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