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Gold Fades For Third Straight Week on Economic Recovery Hopes


Friday, 5 June 2020 12:54 WIB

GOLDEMAS


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Gold eased ahead of a highly awaited U.S. jobs report on Friday as markets pinned hopes on an economic recovery, putting the safe-haven metal on track for a third consecutive weekly decline.

Spot gold was down 0.2% at $1,706.91 per ounce as of 0324 GMT. U.S. gold futures slid 0.7% to $1,714.50.

Bullion has declined about 0.8% so far this week, which could be its biggest fall since the week ending May 1.

Asian equities eased from multi-week highs, but were, however, poised for their biggest weekly rise in over eight years.

Source : Reuters


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