Open Demo Account
Home / Market Update / Commodities / Gold Rises as Dollar Slips Ahead of US Jobs Report

Gold Rises as Dollar Slips Ahead of US Jobs Report

Adel 4 February, 2022 1:27 pm Commodities, Forex Market, Global Stock Market, Market Update

Gold prices rose as the dollar fell on Friday, as markets awaited the US jobs report that may affect the Federal Reserve’s inclination to tighten monetary policy.

Spot gold rose 0.1 percent to $1,805.90 an ounce. And US gold futures rose 0.2 percent to $ 1807.20.

If the US jobs report encourages the general tendency within the Fed to tighten monetary policy, it should lead to a significant decline in gold prices, said Ilya Spivak, an expert in currency trading at Daily Forex.

Gold rose about 0.9 percent this week as the dollar’s decline increased the demand for the precious metal.

Among other precious metals, spot silver prices rose 0.3 percent to $22.47 an ounce, platinum fell 0.4 percent to $1029.49 and palladium increased 0.9 percent to $2344.98.

Tags

Check Also

European Stock Markets See Modest Gains in Holiday-Thinned Trading

European stock markets edged slightly higher on Tuesday as trading volumes remained muted due to …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends