Gold prices surged over 1% to ,140 per ounce as the U.S. dollar weakened following a disappointing nonfarm payrolls report. The U.S. Bureau of Labor Statistics reported only 14,000 jobs added in January, far below the 18,500 expected, while the unemployment rate rose to 3.7% from 3.4%. This data fueled speculation about potential Federal Reserve rate cuts and reduced confidence in the dollar's strength. The weaker dollar makes gold more attractive to international investors, while geopolitical tensions in the Middle East further boosted safe-haven demand. Traders are now closely watching whether the Fed will pivot to a dovish stance amid cooling inflation and slowing wage growth. A sustained break above ,150 could signal stronger momentum for gold in the coming weeks. For Gulf investors, the dollar's weakness against gold presents opportunities in hedging against currency depreciation risks. The ongoing Israel-Hamas conflict and potential for broader regional instability may keep safe-haven flows into gold intact. Market participants should monitor the Fed's March meeting for clues about monetary policy direction and its impact on the dollar-gold relationship.

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