Gold futures on the COMEX division of the New York Mercantile Exchange fell to a nearly three-month low on Friday, as consensus-beating U.S. economic data pushed the U.S. dollar higher
The most active gold contract for December delivery went down 8.90 dollars, or 0.7 percent, to close at 1,269.20 dollars per ounce.
The monthly U.S. jobs report showed that the economy added fewer jobs in October than expected and the unemployment rate fell to 4.1 percent in October from 4.2 percent, while wages declined by a penny to 26.53 dollars an hour. The ISM services index, meanwhile, rose to a 12-year high in October.
The dollar rose against other major currencies, with the U.S. dollar Index up 0.3 percent at 94.995 as of 1830 GMT. Gold and the dollar typically move in opposite directions, as gold priced in greenbacks is less attractive to investors using another currency.
As for other precious metals, silver for December delivery fell 30.3 cents, or 1.77 percent, to close at 16.834 dollars per ounce. Platinum for January dropped 5.9 dollars, or 0.64 percent, to settle at 921.90 dollars per ounce.
The most active gold contract for December delivery went down 8.90 dollars, or 0.7 percent, to close at 1,269.20 dollars per ounce.
The monthly U.S. jobs report showed that the economy added fewer jobs in October than expected and the unemployment rate fell to 4.1 percent in October from 4.2 percent, while wages declined by a penny to 26.53 dollars an hour. The ISM services index, meanwhile, rose to a 12-year high in October.
The dollar rose against other major currencies, with the U.S. dollar Index up 0.3 percent at 94.995 as of 1830 GMT. Gold and the dollar typically move in opposite directions, as gold priced in greenbacks is less attractive to investors using another currency.
As for other precious metals, silver for December delivery fell 30.3 cents, or 1.77 percent, to close at 16.834 dollars per ounce. Platinum for January dropped 5.9 dollars, or 0.64 percent, to settle at 921.90 dollars per ounce.
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