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Gold futures finish higher after weaker than expected jobs data

05 Aug 2023 Evaluate

Gold futures finished higher on Friday, snapping its three straight sessional gains as the July US jobs data came in weaker than expected kindling safe haven appeal of the bullion. Additionally, easing dollar and US Treasury bond yield notes also supported investment appeal of the bullion. Even though, the yellow metal for the most active contract posted 1.2% loss for the week.

Gold futures for December delivery rose by $7.40 or 0.37% settle at $1976.10 ounce on the Comex division of the New York Mercantile. While, spot gold added by $8.85 or 0.46% at $1,942.91 per ounce.