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Gold futures rise after softer US jobs data shifts rate-hike odds
UBS expects gold could climb toward $5,000 per ounce in the first half of 2027, citing easing real-yield and dollar pressures as inflation moderates.
Gold futures rose as a weaker-than-expected monthly jobs report reduced the likelihood of a Federal Reserve rate hike this year, a shift that typically supports non-yielding assets like bullion, according to Yahoo Finance.
The precious metal rallied further after gaining more than 8% over the past five sessions, with buying attributed to increased Chinese investor demand and continued inflows into gold exchange-traded funds.
UBS analysts said the market also got a boost from efforts by the United States and Japan to support the yen, which eased concerns about a potential sell-off in US Treasurys that could have pushed yields higher.
UBS chief investment officer Ulrike Hoffmann-Burchardi and her team wrote that they expect gold prices to move toward $5,000 per ounce in the first half of 2027, assuming inflation gradually moderates so the Fed can hold rates steady in 2026 before easing in 2027, while central banks continue purchasing gold.
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