Gold falls ahead of US jobs report

Gold prices declined on Friday ahead of the release of the US monthly employment report, with the precious metal heading for a weekly loss as ongoing geopolitical tensions continue to fuel inflationary pressures.

 

The US dollar index, which measures the greenback against a basket of six major currencies, was little changed at 99.41.

 

Precious Metals Prices (Futures and Spot)

Metal

Price ($/oz)

Change ($)

Change (%)

Gold (August futures)

4,475.40

(29.60)

(0.65%)

Spot Gold

4,442.59

(32.21)

(0.70%)

Silver (July futures)

72.93

(1.05)

(1.40%)

Spot Silver

72.63

(1.25)

(1.70%)

Spot Platinum

1,883.43

(14.25)

(0.75%)

Spot Palladium

1,303.32

(7.36)

(0.55%)
*Prices as of 08:13 Makkah time.
 

The move comes after Hezbollah, which is backed by Iran, rejected a ceasefire in Lebanon, while Israel said it would not withdraw its forces from the country, undermining efforts by Donald Trump to end the fighting and pave the way for peace with Tehran, Reuters reported.

 

Investors are awaiting US nonfarm payrolls data for May, due later on Friday, for clues on the future path of Federal Reserve monetary policy. Economists expect hiring growth to slow while the unemployment rate remains unchanged.

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Commodity Price

 
Gold
4,450.27
(23.92) (0.53%)
Silver
72.44
(1.44) (1.95%)
PLATINUM
1,886.60
(13.80) (0.73%)

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