Gold prices rose during early trading as the US dollar experienced a mild weakening, making the dollar-denominated precious metal less expensive for potential investors. Spot gold climbed 0.4% to $4,451.07 per ounce.
Looking ahead, market participants are expected to closely monitor upcoming US labor market data and developments in the Middle East for clues regarding the future direction of monetary policy. The ongoing purchases by central banks continue to provide a significant source of structural demand for the precious metal.
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