Gold rate today, Aug. 8 -- The precious metal prices ended the week on a constructive note, with precious metals posting strong gains after weaker-than-expected US jobs data reduced hopes of a US Fed rate hike. Gold and silver rates benefited from declining US Treasury yields and a softer US dollar, while crude oil remained volatile amid shifting headlines surrounding a potential agreement to reopen shipping through the Strait of Hormuz.

Overall, gold and silver prices were driven by evolving expectations for US monetary policy, economic data, movements in the dollar and Treasury yields, and geopolitical developments in the Middle East.

On the triggers fueling the gold price today, Ponmudi R, CEO at Enrich Money, said that gold and silv...