Gold hits seven-week high after weak US jobs data

Gold is a shiny metal that people buy to keep their money safe.

This week it became more expensive, reaching its highest price in seven weeks.

A government report showed that fewer Americans got jobs in July than people expected.

When fewer people have jobs, experts think the Federal Reserve will not raise interest rates.

Lower interest rates make gold look better than savings accounts and bonds, because gold does not pay interest itself.

One ounce of gold cost about $4,336.

Investors now think there is a smaller chance the Fed will raise rates in September.

Other metals like silver and platinum also went up in price this week.

A bank called UBS says gold could reach $5,000 an ounce in the first half of 2027.