Gold Prices Head for Best Week in 4 Months, US Jobs Data Eyed

GOLD - LONDON. Gold prices were poised for their biggest weekly jump in four months on Friday, supported by safe-haven demand and expectations that the U.S. Federal Reserve would start cutting interest rates in September as markets await key jobs report for further cues.

Spot gold was up 0.7% at $2,463.45 per ounce, as of 0915 GMT, just $22 shy of the record peak of $2,483.60 scaled on July 17. Bullion is on track for its biggest weekly gain since April 5.