Gold Prices Slip as Dollar Strengthens and U.S. Jobs Data Looms
Latest news on WhatsApp أجدد الأخبار على واتسابGold prices declined modestly on Thursday, pressured by a stronger U.S. dollar and profit-taking after recent gains, as investors awaited key U.S. jobs data due Friday that could influence the Federal Reserve’s monetary policy outlook.
Spot gold slipped about 0.3% to $4,440.67 an ounce, retreating from a one-week high, while U.S. gold futures for February delivery also eased by roughly the same margin.
The firm dollar has weighed on bullion, making dollar-priced gold more expensive for buyers of other currencies and curbing demand. Traders have also booked profits after strong price rallies at the end of the previous year.
Market participants are closely watching the upcoming U.S. non-farm payrolls report (NFP), which is expected to provide further clues on interest rate trends as policymakers weigh future actions. Other precious metals such as silver, platinum and palladium have also seen declines amid the broader shift in sentiment.
