Gold stabilizes after mixed data on jobs in America

Gold price movements

⇒ Gold prices

Gold prices closed little changed after data showing a rebound in job growth in the US, but with wage growth slowing.

Spot gold was trading at $ 1291.75 an ounce late in the US session. On Thursday, prices touched the lowest level since Jan. 25 at $ 1280.59.
The precious metal is also ending the week with little change.

US gold futures rose 0.1 percent to settle at $ 1295.6 an ounce.

Gold fell as much as 0.6 percent after a government report showed US job growth accelerated from a 17-month low in March. But the yellow metal recovered most of its losses as investors looked at other details in the report showing a slower wage increase.

Gold is also supported by an improvement in investors' appetite for risk amid hopes that the United States and China will reach a trade deal.

Among other precious metals, platinum fell 0.3 percent to $ 895 an ounce, having earlier hit its highest level since mid-June at $ 907.63. The metal ended the week with gains of about 5.7 percent, its biggest weekly gain since January 2017.

Palladium rose 0.4 percent to $ 1372.01 an ounce but ended the week on a loss.

The price difference between palladium and platinum fell about 40 percent to $ 451 an ounce from a record $ 753 in mid-March. Both minerals are mainly used in the manufacture of automotive exhaust exhaust catalysts.

Spot silver fell 0.3 percent to $ 15.09 an ounce after falling in the previous session to its lowest level since late December.

Weekly Analysis EURUSD 8, 12 Apr 2019