| Gold prices, which have been trending down over the last couple of weeks and threatening to decline below the psychological $1,300 per ounce mark, found respite after a strong bounce-back on Friday. This was thanks to the weak US job numbers released on Friday, which dimmed the prospects of a US Fed rate hike.
The global gold spot prices fell to a low of $1,302 on Thursday and reversed sharply higher, recovering all the losses made during the week to close at $1,325. Prior to this reversal the yellow metal was trading under pressure as the dollar index had surged after US Federal Reserve Chair Janet Yellen’s Jackson Hole speech on August 26. Yellen had indicated that the case for the next rate hike had strengthened in recent months...............................................Full Article: Source
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