Gold Rises to Four-Week High Ahead of Fresh US Economic Data
- July jobless claims are due Thursday, nonfarm payrolls Friday
- Bullion trades up on Monday after climbing 2.2% last week
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Gold rose to the highest since early July as investors waited on fresh data to be released on the state of the U.S. economy and the potential pace for interest-rate hikes.
Bullion rose 2.2% last week -- paring a fourth monthly decline -- and continued to climb on Monday as the risk of a recession cooled expectations for how sharply the Federal Reserve will raise rates to tame inflation. The US is due to release key employment data this week, with July jobless claims coming Thursday and nonfarm payrolls Friday.