Gold Ends Higher as Traders Sift Jobs Report

U.S. adds 223,000 jobs in April, but March job gains revised sharply lower

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Gold for June delivery, the most actively traded contract, increased $6.70, or 0.6%, on Friday to settle at $1,188.90 a troy ounce on the Comex division of the New York Mercantile Exchange.

Gold futures gained 1.2% for the week.

Investors have been scrutinizing U.S. data for clues as to when the Fed might lift borrowing costs from near zero. Mixed signals from economic reports have kept gold prices tethered to a narrow trading range in recent weeks. The precious metal doesn’t pay interest or dividends and has a harder time competing with stocks and bonds when interest rates are climbing.

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Arnaldo Rodgers Posted by on 1:23 pm, With 0 Reads, Filed under Economy. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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