Gold Ends Higher after U.S. Jobs Report, but Posts a Loss for The Week

Saturday, 4 April 2020 01:25 WIB



Gold futures ended higher on Friday after a report on U.S. employment in March indicated that the damage from coronavirus related business shutdowns is already having a big impact on the labor market.

For the week, however, prices posted a modest decline. "Gold's upside price bias has been restrained by the deflation scare running through financial markets,” said Michael Kosares, founder of USAGOLD.

June gold on Comex rose $8, or 0.5%, to settle at $1,645.70 an ounce. It tacked on 2.9% on Thursday, marking its first gain in five sessions. The most-active contract registered a loss of 0.5% for the week, according to FactSet data. Among other metals, May silver lost 16 cents, or 1.1%, to $14.494 an ounce. For the week, gold's sister metal declined by 0.3%.

Source : Marketwatch


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