Gold prices surged to a record high of $3,585/oz after a weak August Jobs Report, with NFP number coming in at just +22K, far below the expected +75K, leading to expectations of a September rate cut. Concerns over Fed independence and BLS leadership shakeup added to gold’s safe-haven appeal. Gold traded above key levels throughout the week, supported by monetary policy hopes and market instability. Gold spot prices easily surpassed resistance at $3,500/oz, driven by expectations of a Fed interest rate cut and traditional safe-haven appeal. The August Jobs Report kept the door open for a rate cut, pushing gold to a new all-time high of $3,585/oz.

Read more at Yahoo Finance: Gold Surges to New Highs as Weak Jobs Data Fuels Rate Cut Bets