Gold Stabilizes Near Two-Week High Amid Lower US Interest Rate Hike Expectations

Gold prices stabilized on Monday near their highest levels in two weeks, following the release of a weaker-than-expected US jobs report last week. This report contributed to a slight decline in market expectations regarding the US Federal Reserve's interest rate hikes. The spot gold price was set at $4175.02 per ounce by 00:28 GMT, after the yellow metal achieved weekly gains exceeding 2% last Friday, thus ending four consecutive weeks of decline. US gold futures for August delivery also recorded a 1.5% rise, reaching $4186.80 per ounce.