Gold settles lower after US jobs report

BSS/Xinhua, CHICAGO: Gold futures on the COMEX division of the New York Mercantile Exchange settled slightly lower on Friday after the monthly US jobs report.
The most active gold contract for December delivery lost 3.10 US dollars, or 0.28 per cent, to settle at 1,121.40 dollars per ounce.
For the week, the gold futures lost 1.11 per cent.
U.S. Department of Labor said Friday that employers added 173, 000 workers in August, which is at the low-end estimate of consensus range of Bloomberg, while the unemployment rate fell to 5.1 per cent, lowest since April 2008, and average hourly earnings up 0.3 per cent.
Gold prices fell as the mixed U.S. payrolls data failed to allay uncertainty over the prospect of a near-term interest rate hike from the Federal Reserve, analysts said.
Silver for December delivery fell 15.8 cents, or 1.07 per cent, to close at 14.549 dollars per ounce.

Gold settles lower after US jobs report

BSS/Xinhua, CHICAGO: Gold futures on the COMEX division of the New York Mercantile Exchange settled slightly lower on Friday after the monthly US jobs report. The most active gold contract for December delivery lost 3.10 US dollars, or 0.28 per cent, to settle at 1,121.40 dollars per ounce. For the week, the gold futures lost 1.11 per cent. U.S. Department of Labor said Friday that employers added 173, 000 workers in August, which is at the low-end estimate of consensus range of Bloomberg, while the unemployment rate fell to 5.1 per cent, lowest since April 2008, and average hourly earnings up 0.3 per cent. Gold prices fell as the mixed U.S. payrolls data failed to allay uncertainty over the prospect of a near-term interest rate hike from the Federal Reserve, analysts said. Silver for December delivery fell 15.8 cents, or 1.07 per cent, to close at 14.549 dollars per ounce.