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Gold futures settle lower on better employment data

06 Mar 2021 Evaluate
Gold futures settled below $1700 key level on Friday, pressured by the stronger dollar followed by the decline in US unemployment by 6.2% and on peaking bond yields. The yellow metal for the most active contract fell by 1.8% for the week.

Gold futures for April delivery dipped by 0.1% or $2.20 to settle at $1,698.50 an ounce on the Comex division of the New York Mercantile. Spot gold settled 0.1% lower at $1,698.50 per ounce.