Wheaton Precious CFO Gary Brown to step down
Vincent Lau will take over the CFO role after serving as Wheaton's vice president of finance for more than a decade.
Gold rose for a third day as traders mulled the outlook for the Federal Reserve’s easing path, ahead of key jobs figures due later Friday.
Bullion traded near $2,670 an ounce — touching the highest since mid-December — but showed limited movements with some US financial markets closed Thursday. Recent data showed US private-sector hiring and wage growth slowed in December.
The Fed will need to balance that against renewed inflation fears when deciding on cutting rates, with minutes of its meeting last month reaffirming a more cautious approach to easing. Lower borrowing costs are typically positive for gold, which doesn’t offer interest.
Traders are now shifting attention to Friday’s payrolls data for December, which are expected to show moderating yet still-healthy job growth that economists expect to carry on in 2025. A survey conducted by 22V Research showed most investors are watching the report more closely than usual.
Bullion surged 27% last year in a record-breaking run that was propelled in part by US monetary easing, though the rally lost momentum after Donald Trump’s US presidential election victory buoyed the dollar. Bulls now face the prospect of less impressive gains this year, with Goldman Sachs Group Inc. pushing back a target for gold hitting $3,000 to mid-2026 on expectations for fewer Fed cuts.
Spot gold added 0.2% to close at $2,667.25 an ounce at 5 p.m. in New York. The Bloomberg Dollar Spot Index was up 0.1%. Platinum and palladium were steady, while silver edged higher.
(By Sybilla Gross and Preeti Soni)
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