Gold Prices Fall as Bonds And Stocks Rise, Supported by US Jobs Data

Gold prices fell on Monday, April 5, as US Treasury yields rose and global stocks rose after better-than-expected jobs data in the United States fueled optimism about a rapid economic recovery.

Gold was down in spot trading 0.3% to $1723.16 an ounce. US gold futures settled at $1761.20 an ounce.

In March, the US economy created the largest number of jobs in seven months, as more Americans received the vaccine and the government distributed more aid money linked to the pandemic.

This raised global stock prices today to a peak of more than a month, while record US Treasury yields approached a 14-month high.

However, the dollar stabilized against rivals ahead of the US services sector data.

As for the other precious metals, silver fell 1.1% to $24.70 an ounce, and palladium fell 0.8% to $2645.98. Platinum fell 0.1% to $1,208 an ounce, after reaching its highest level since March 18 during the session at $1218.