Over the week, gold rose by more than 1%, which was the most significant weekly increase since mid-November. At the same time, it should be noted that the price of the metal is growing relative to the strengthening U.S. dollar. In addition, on Thursday, Jeff Schmid, President of the Federal Reserve Bank of Kansas City, expressed his reluctance to cut rates again, as the economy remains robust and inflation is above the 2% target.

Attention should now turn to the upcoming U.S. labor market data releases on Friday.

A significant increase in volatility and higher demand for gold can be expected if for some reason the news disappoints investors.