Gold prices climbed to their highest level since late June on Thursday, supported by weaker-than-expected US private payrolls data, a softer dollar and hopes for an agreement to reopen the Strait of Hormuz, Anadolu reports. Spot gold rose as high as around $4,300 per ounce before paring some gains to trade around $4,260, extending its advance for a fourth consecutive session. The weaker labor market data reduced expectations that the US Federal Reserve will raise interest rates in September, supporting non-yielding assets such as gold. Optimism over a possible reopening of the Strait of Hormuz provided further support to the precious metal. Despite its recent recovery, gold remains more than 20% below its record high of $5,589 per ounce, reached in late January.