Gold Falls After Nonfarm Payrolls Data

Published on Apr 04, 2022 15:31

COMEX Gold futures for June tanked around 1.5% to approach near $1920 per ounce in last session. The metal prices declined sharply on Friday, as the dollar firmed against peers amid bets the Fed would resort to aggressive monetary tightening after data showed the jobless rate in US dropped to a new two-year low in March. A surge in Treasury yields also weighed on the yellow metal, while concerns about the Russia-Ukraine conflict limited gold`s declined. The dollar index stayed well supported around 98.50 mark, capping upmove in Gold.