Gold erased all gains made earlier this week after tensions between the U.S. and Iran eased, damping demand for haven assets.
The S&P 500 Index climbed to a fresh record Thursday amid signs that America and Iran have stepped back from the brink of war, helping revitalize risk appetite during the second half of the week. The U.S. House of Representatives voted Thursday to limit President Donald Trump’s authority to strike Iran, a mostly symbolic move.
Investors turn their focus to America’s monthly nonfarm jobs report due Friday. On Thursday, filings for U.S. unemployment benefits fell to a five-week low, adding to signs of economic strength.
Spot gold -0.1% to $1,550.99/oz at 8:36am in Singapore; -0.1% this week.
Source : Bloomberg