Gold held near the highest level in a week after weaker-than-expected U.S. jobs data and Federal Reserve Chairman Jerome Powell’s comments on monetary policy.
While employers added 20,000 jobs in February, the fewest since September 2017, analysts said the unexpectedly low figure doesn’t mean conditions rapidly deteriorated, but pointed to the likelihood of a moderation in job gains this year as economic growth cools.
Spot gold -0.1% to $1,296.56/oz at 9:40am in Singapore. Metal as much as +1.2% to $1,300.81 on Friday, highest intraday level since March 1. Bloomberg Dollar Spot Index +0.1%.
Other precious metals: Silver -0.1%. Platinum -0.6%. Palladium -0.3% to $1,511.50/oz.