Gold prices rise over 0.44% during Friday’s North American session as weaker than expected jobs market data increased the chances that the Federal Reserve (Fed) will cut interest rates next week. At the time of writing, XAU/USD trades at $3,649 after hitting a daily low of $3,630.
China imported 49.49 million tons of crude oil in August, according to data from the Chinese customs authority, Commerzbank's commodity analyst Carsten Fritsch notes.
Oil prices came under pressure on Wednesday after Reuters reported that OPEC+ could consider a further increase in production at Sunday's virtual meeting of countries with voluntary production cuts, Commerzbank's commodity analyst Carsten Fritsch notes.