Gold Approaching Record Highs Amid Economic Uncertainty.

Gold prices continue to surge, reaching a 13-month high, as US data shows the jobs market loosening more than expected, diminishing bets the Federal Reserve will hike interest rates again. The precious metal closed above the $2,000 an ounce threshold for the first time since March 2022, and is nearing its all-time high of $2,075.47 reached in August 2020 after a sharp rally last month driven by turmoil in the US and Swiss banking sectors. Cooling economic indicators curb expectations for further Fed tightening, which tends to weigh on the non-interest bearing asset.