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Gold Drops in Wake of US Jobs Data Singapore, 4 Aug (ONA) — Gold prices slipped today as investors booked profits after a sharp rise in the previous session following weaker-than-expected US jobs data that boosted expectations for a Federal Reserve interest rate cut in September.
Spot gold lost 0.3% to $3,351.80 per ounce. Bullion had risen more than 2% on Friday.
However, US gold futures gained 0.2% to $3,404.80.
The dollar index fell 0.5% against a basket of rivals, making gold more affordable for holders of other currencies.
Spot silver fell 0.5% to $36.83 per ounce, platinum slipped 0.6% to $1,307.25 and palladium dipped 1.6% to $1,189.27. —Ends/AG
