Following a slight decrease in the june consumer price index (CPI), investors anticipate a low probability of a federal reserve interest rate hike later this month.

Each ounce of gold rose more than 2% this week due to the US jobs report, marking its first gain in over one month.

Each ounce of gold increased by nearly 100 USD as a weaker-than-expected US jobs report pushed prices above 4,100 USD.

Fed chairman Kevin Warsh expresses concern about inflation and pledges to restore price stability in the US after years of exceeding targets.

Gold prices recovered slightly at the end of the week after facing pressure earlier this week, at one point reaching 4,094 USD per ounce.

Latest US economic data leads investors and major banks to bet on a Federal Reserve rate hike starting in September.

An ounce of gold currently sits around 4,150 USD, marking its third consecutive weekly decline, primarily driven by the prospect of a fed interest rate hike.

Experts predict gold prices will fluctuate based on the outcomes of central bank interest rate meetings, including the Fed's.