Gold prices consolidate at around $2,650 for the seventh consecutive day, posts modest gains of over 0.20% after US jobs data revealed that private hiring dipped, missing economists forecasts.
Gold prices see slight increase, stabilizing at around $2,650 following subpar US ADP employment data. November's ADP report shows a hiring slowdown, with only 146,000 jobs added versus the 150,000 expected. Fed officials maintain cautious stance on rate cuts amid solid but slowing employment growth and sticky inflation. At the time of writing, XAU/USD trades at $2,648.
Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
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