Gold inched down on Friday after rising 1.4% in the previous session as the U.S. dollar firmed, but record high weekly U.S. jobless claims filings kept a check on bullion’s downside.

Spot gold eased 0.1% to $1,610.64 per ounce by 0037 GMT. U.S. gold futures slipped 0.1% to $1,635.50.

The metal was down over 0.4% for the week after an 8% jump in the previous week.

The dollar was up 0.1% against key rivals, having risen for the last two sessions.

The number of Americans filing claims for unemployment benefits last week shot to a record high of 6.65 million, as more jurisdictions enforced stay-at-home measures to curb the coronavirus.

Source: CNBC