Gold edges lower on firmer dollar after strong US jobs data
Gold prices dipped on Thursday, as the US dollar firmed after stronger-than-expected January jobs data dented expectation for near-term interest rate cuts, while investors awaited inflation data due on Friday for more monetary policy cues.Spot gold edged 0.3 per cent lower to $5,065.98 per ounce by 0318 GMT. It closed Wednesday with a more than 1 percent gain.US gold futures for April delivery lost 0.2 per cent to $5,087.30 per ounce.The US dollar index rose following the surprisingly strong employment report that suggested underlying US economic health. A stronger dollar makes greenback-priced metals more expensive for other currency holders.Spot silver fell 0.3 per cent to $83.81 per ounce, after a 4 percent climb on Wednesday.Spot platinum shed 0.3 per cent to $2,126.52 per ounce, while palladium rose 1.4 per cent to $1,722.67. WAM
Gold prices dipped on Thursday, as the US dollar firmed after stronger-than-expected January jobs data dented expectation for near-term interest rate cuts, while investors awaited inflation data due on Friday for more monetary policy cues.Spot gold edged 0.3 per cent lower to $5,065.98 per ounce by 0318 GMT. It closed Wednesday with a more than 1 percent gain.US gold futures for April delivery lost 0.2 per cent to $5,087.30 per ounce.The US dollar index rose following the surprisingly strong employment report that suggested underlying US economic health. A stronger dollar makes greenback-priced metals more expensive for other currency holders.Spot silver fell 0.3 per cent to $83.81 per ounce, after a 4 percent climb on Wednesday.Spot platinum shed 0.3 per cent to $2,126.52 per ounce, while palladium rose 1.4 per cent to $1,722.67. WAM
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