Gold set for best week since January as inflation fears ebb - Reuters
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- Gold is set for its best week since January as inflation fears recede, according to Reuters.
- The U.S. economy lost 23,000 jobs in July, pushing gold to its highest level since June on weak payrolls data and Hormuz deal hopes, per KITCO and CNBC.
Why it matters: With 23,000 jobs lost in July and inflation fears receding, gold has climbed to its highest level since June and is on track for its best week since January, marking a notable reset in safe-haven demand tied to U.S. labor market weakness and Middle East diplomatic hopes.
