Gold Rises 1% As Dollar Rally Stalls Ahead Of Key US Jobs Data
NDTV
Gold prices jumped more than 1 per cent on Friday as the dollar slipped ahead of a US jobs report.
Gold prices jumped more than 1 per cent on Friday as the dollar slipped ahead of a US jobs report that could offer cues on the Federal Reserve's rate-hike path.
Spot gold rose 1.3 per cent to $1,649.93 per ounce by 1054 GMT, and was up 0.4 per cent for the week. US gold futures also gained 1.3 per cent to $1,652.90.
The dollar index fell 0.5 per cent, making greenback-priced gold more appealing for overseas buyers.
"Investors are still digesting Fed's comments and today there is some more optimism, markets are trying to focus the attention also on dovish remarks, while uncertainty is still dominant," said Carlo Alberto De Casa, external analyst for Kinesis Money.
