Gold prices jumped to a seven-week high on Friday following surprisingly weak US jobs data released for July. The data indicated a significant slowdown in job growth, leading to diminished expectations of further interest rate hikes by the Federal Reserve. This shift in expectations bolstered demand for gold, which often thrives in lower-interest-rate environments. Spot gold rose 2.3 percent to $2,036.02 per ounce as of 18:42 GMT. The unexpected economic figures suggest a potential cooling of the US economy. Investors are now reassessing the likelihood of continued monetary tightening by the Fed, driving investment towards safe-haven assets like gold. This price increase reflects a response to changing market sentiment regarding US economic policy.