Manama: Gold rose more than 1% and was on track to post its first weekly gain in five weeks after weaker-than-expected US employment data reduced expectations of further interest rate increases by the US Federal Reserve.
According to Bahrain News Agency, spot gold rose 1.4% to US $4,179.94 per ounce, while US gold futures for August delivery gained 1.6% to US $4,193.20. Gold was set for a weekly gain of 2.3%. Meanwhile, silver, platinum and palladium also advanced and were on track to post weekly gains.