Gold ends higher after weak US jobs data
Gold futures rose closed higher on Friday, despite the US dollar's rally against most currencies, as investors rushed to gold for safety following the release of weak US jobs report.
The US Department of Labor revealed that the US economy has lost around 701,000 jobs in March, and the unemployment rate jumped to 4.4% in March vs. 3.5% during February.
The dollar index rose 0.5% to 100.6 points as of 18:57 GMT, after it hit a high of 100.8 and a low of 100.1.
The US economy is suffering a severe impact from the coronavirus pandemic, as President Donald Trump warned that the US will face "very, very painful two weeks."
Gold June futures rose 0.5% to $1645.7 an ounce, but posted 0.5% weekly loss, after hitting a day high of $1648.1 and a low of $1624.4.
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