Gold price

Spot gold edged 0.1 per cent higher to $4,651.34 per ounce by 0702 GMT, while US gold futures for June delivery fell 0.2 per cent to $4,676.50

Gold is typically seen as a hedge against inflation and geopolitical risks, but the conflict-driven surge in energy costs is also raising expectations

Bullion dealers in India this week offered a discount of XAU-IN-PREM up to $83 per ounce over official domestic gold prices

The unemployment data has helped precious metals and weakened the dollar, prompting investors to look for other asset classes

Markets remain focused on the Fed’s policy outlook after the US central bank delivered a 25-basis-point rate cut last week in a rare split decision

Spot silver fell 0.4 per cent to $54 per ounce, after hitting a record high of $54.47, tracking the rally in gold and a short squeeze in the spot market

The prolonged US government shutdown, now in its third day as of Friday, has delayed key economic data, including the non-farm payrolls report

Rate-cut expectations and worries over the Federal Reserve’s independence are going to add to safe-haven demand

As gold prices rose by 27 per cent last year, demand for gold jewellery in the UAE fell by around 13 per cent

Bullion rose more than 1 per cent to scale an all-time peak of $3,219.84 earlier in the session, and has gained around 5 per cent this week