Gold Edges Up as Traders Weigh US Jobs Data, Fed Rate Path

Group 1 - Gold prices steadied around $4,495 an ounce as traders expect the Federal Reserve to maintain interest rates during the January meeting, following mixed signals from US jobs data [1][2] - The December payrolls report indicated fewer job additions than anticipated, contributing to a yearlong slowdown in the labor market, while the unemployment rate decreased to 4.4%, exceeding expectations [2] - Despite recent fluctuations, gold is projected to gain this week, with traders pricing in two overall rate cuts in 2026, which historically supports precious metals [3] Group 2 - Silver experienced a 3.2% increase on Friday, recovering from a two-day decline, and had a remarkable 150% rally last year, significantly outperforming gold due to a historic short squeeze and high demand from India [4] - Analysts from Metals Focus predict further price increases across precious metals due to ongoing economic and geopolitical uncertainties, which encourage portfolio diversification [5] - Geopolitical tensions, particularly regarding China-Japan trade relations and the US's actions in Venezuela, are expected to bolster the safe haven appeal of precious metals, with analysts suggesting that the ousting of Nicolás Maduro may lead to higher gold prices due to increased uncertainty [5]