Gold slips ahead of US jobs data
Spot gold fell 0.4 percent to $4,070.59 per ounce on Friday as oil prices fluctuated. Despite the daily decline, the precious metal remains on track for its strongest weekly gain in over two months ahead of crucial US employment figures.
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Gold fell 0.4% to $4,070.59 per ounce on Friday morning, though the metal remains on track for a 5% weekly gain. The pullback occurred as volatile oil prices revived inflation concerns ahead of key labor market data in the United States. Higher energy costs increase the opportunity cost of holding non-yielding bullion by raising expectations for tighter monetary policy.
