Gold pulls back near $2000 per ounce

Published on Apr 10, 2023 17:37

The US dollar index is extending strength towards a one-week high following non-farm data on Friday that is keeping gold prices under pressure. US non-farm payrolls report pointed to a tight labor market, adding to case for a Federal rate hike. US non-farm payrolls increased by 236,000 jobs in March, and unemployment rate fell to 3.5%. The dollar index that measures the greenback against a basket of currencies is holding near 102 mark while COMEX gold is seen on the verge of breaking $2000 mark and is currently quoting at $2006.90 an ounce, down 1% over its previous close.