Thu. Dec 8th, 2022

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Gold yet again shines for gloomy US jobs data

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Gold prices rose on Friday as gloomy U.S. jobs data cast a shadow over the economic outlook, and major central banks pledged to roll out further stimulus if required to revive their coronavirus-battered economies.

Spot gold climbed 0.5% to $1,951.32 per ounce by 0348 GMT, having fallen to a one-week low in the previous session. It has gained 0.5% so far this week.

U.S. gold futures were 0.5% higher at $1,959.
The dollar index steadied after falling overnight.

Among other precious metals, silver eased 0.2% to $27.03 per ounce. Platinum inched 0.1% lower to $939.79 per ounce, while palladium was steady at $2,336.12.

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