Gold gains 4.73% as US labour data weakens Fed rate hike bets

Gold is a shiny treasure that many people like to save.

This week, gold became more valuable in India and around the world.

One reason is that America's central bank, called the Fed, decides if borrowing money should cost more or less.

A new report showed that fewer Americans got new jobs than people expected.

Because of that, the Fed probably will not raise rates as much, so gold became more attractive.

When the US dollar became weaker, gold also got cheaper for buyers using other money, which pushed its price up.

In India, prices for 10 grams of 24-carat gold jumped from about Rs 1,42,863 to Rs 1,49,621.

Silver went up a little too.

People are now watching new inflation numbers to guess what the Fed will do next.