Key Points
(Reuters) Gold prices surged to a fresh record high on Friday as data showing a rise in the U.S. unemployment rate boosted expectations that the Federal Reserve could begin cutting interest rates soon...
ET (1542 GMT), while U.S. gold futures added 0.7% to $2,180.50...
Gold reached an all-time high of $2,185.19 after a report showed a rise in the U.S. unemployment rate and a moderation in wage gains despite job growth acceleration in February...
Traders boosted bets the Fed could start cutting interest rates in May to around 30% after the jobs report, although June remained the mostly likely scenario at 80%...
Gold prices will continue to trend higher overall, though a short consolidation may be necessary, said Tai Wong, a New York-based independent metals trader...
