Gold Trims Weekly Loss as US Jobs Data Raises Fed Rate Cut Bets

Group 1 - Gold prices advanced, trimming a weekly loss as traders increased bets on monetary easing following a weak US jobs report, with unexpected job cuts in February and a rising unemployment rate indicating labor market fragility [1][2] - Gold rose as much as 1.8% to $5,174.59 per ounce, reducing its weekly decline to 2.3%, as lower interest rates typically benefit non-yielding gold [2] - The precious metal faced pressure from rising oil prices due to Middle East conflicts, which fueled inflation concerns, while a stronger dollar and higher borrowing costs negatively impacted gold [2][4] Group 2 - Despite recent trading volatility, gold has gained nearly 20% so far this year, supported by geopolitical upheaval and threats to the Federal Reserve's independence, which have driven demand for safer assets [4] - Spot gold rose 1.5% to $5,157.42 per ounce, while silver climbed 2.1% to $83.93, indicating a positive trend for precious metals amid market uncertainties [4]