Washington, Aug. 1 (BNA): Gold prices rose almost 2%, hitting a one-week high, on Friday after weaker-than-expected U.S. payrolls data Zboosted Federal Reserve rate cut expectations and fresh tariff announcements spurred safe-haven demand.

Spot gold reached its highest level since July 25, adding 1.8% to $3,350.67 per ounce as of 1135 a.m. ET (15:35 GMT), after rising as much as 2% earlier today. Bullion was up 0.4% so far this week.

U.S. gold futures rose 1.6% to $3,403.

Spot silver was up 0.5% to $36.94 per ounce, platinum added 1.1% to $1,303.43 and palladium gained 1.2% at $1,205.58.

M.I.