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Gold Heads for 3rd Week of Losses Amid Signs of Recovery


Friday, 5 June 2020 15:08 WIB

GOLDEMAS


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Gold eased on Friday ahead of a key U.S. jobs report and looked set for a third consecutive weekly decline as hopes for an economic recovery stoked interest in assets seen as higher risk, like stocks, at the metal's expense.

Spot gold was down 0.2% at $1,708.07 per ounce as of 07:00 GMT, while U.S. gold futures slid 0.9% to $1,711.80.

Bullion has declined about 1% so far this week, and is on track for its biggest fall since the week ending May 1.

However, spot prices remain just 3% below the seven-year high they hit last month after central banks released a wave of stimulus measures to combat a coronavirus-linked slowdown.

Source : Reuters


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