fromLondon Business News | Londonlovesbusiness.com
5 months agoGold steadies near record highs as markets await US jobs data - London Business News | Londonlovesbusiness.com
Gold traded near record levels on Friday, as investors remained cautious ahead of the US non-farm payrolls report. The metal remains supported by expectations of monetary easing and continued safe-haven demand amid global uncertainty. Recent US data have reinforced dovish expectations. The ADP employment report showed weaker private payrolls, fuelling concerns about the job market. Traders now see a near-certainty of a 25-basis-point rate cut at the Fed's September meeting and are betting on up to three cuts this year.