Gold futures are trading higher at the end of the trading week after paring substantial
April gold futures rose $0.90, or 0.07%, to $1,322.60 per ounce at 15:23 GMT on Friday. Gold prices are on track for a 0.2% weekly decline, even with threats of a global trade war. Gold tumbled as much as 0.5% following the latest labor report.
Silver, the sister commodity to gold, is rallying to finish the trading week. May silver futures jumped $0.135, or 0.82%, to $16.63 an ounce. Should the modest gains hold, the white metal will post a weekly increase of 0.55%.
According to the Bureau of Labor Statistics (BLS), the national economy added 313,000 jobs in February, beating initial expectations of 200,000. The unemployment rate remained unchanged at 4.1%.
The jobs report also found that wage growth moderated with hourly wages rising just four cents to $26.75 per hour. The 12-month increase in income tumbled to 2.6%, down from 2.8% in January. This has analysts suggesting that inflation may be tamer than originally thought, which could affect how the Federal Reserve moves ahead on interest rates.
Gold is generally sensitive to a
The US dollar could not benefit from a strong jobs report as the greenback slid 0.11% to 90.02. The US dollar is clinging to a 0.09% weekly gain. A weaker buck is good for
Other metals are surging on Friday. May copper futures soared $0.068, or 2.21%, to $3.147 per pound. May platinum futures climbed $9.60, or 1.01%, to $961.90 an ounce. May palladium futures surged $19.50, or 2.02%, to $985.10 an ounce.
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