Gold Rebounds but Fails to Recover All Weekly Losses

Gold prices finished higher on Friday, as the May jobs report in the United States came below expectations, which signaled that it would probably be more time before the Federal Reserve begins changing its current policies.

The yellow metal futures for August delivery rose by $18.70, or 1%, to close at $1,892 per ounce.

For the week, gold’s most active contract registered a loss of 0.7%, as it failed to restore the $1,900 level.

Meanwhile, silver futures for July delivery gained 42 cents, or 1.5%, to end Friday at $27.90 per ounce, down by 0.4% on a weekly basis.