Gold futures finished sharply lower on Friday, as the strong US April jobs report intensified bet about Federal Reserve pausing interest rate hike. Moreover, profit taking after previous session’s 8 month high also triggered the downside. The yellow metal for the most active contract marked 1.6% gain for the week.
Gold futures for June dipped by 30.90 or 1.50% to settle at $2024.80 ounce on the Comex division of the New York Mercantile. While, spot gold slipped by $33.49 or 1.63% to $2,016.79 per ounce.