Gold Keeps Climbing Despite Weak Jobs Report

The precious metal extended its rally to fresh recent highs even as July's US jobs report came in noticeably weaker than expected. While soft macro data can affect gold in different ways, investors this time chose to interpret it as a signal of looser Fed policy ahead, which typically supports the metal. Gold has long been viewed as a safe-haven asset during periods of economic uncertainty and falling real interest rates. Demand is also being fueled by expectations of a more dovish central bank tone at upcoming meetings. For investors in Kazakhstan, gold's rise could be worth watching as a way to diversify portfolios and hedge currency risk.