Gold holds amid quiet trading activity

Economies.com
2020-07-03 18:56PM UTC

Gold futures closed stable on Friday, amid the closure of the US market in observance of an official holiday.

 

Gold has scored about 0.5% weekly gain, on safe-haven demand, amid the ongoing uncertainty over the coronavirus crisis.

 

The US Department of Labor revealed yesterday that the economy has added 4.8 million new jobs in June, beating forecasts of 3 million jobs.

 

While the Federal Reserve meeting minutes showed that most FOMC members are concerned about the mounting uncertainty around the US economy's recovery from the coronavirus crisis.

 

US President Donald Trump expressed optimism after the strong jobs report, and said he expects record growth in the third quarter and in 2021.

 

As of 18:22 GMT, spot gold futures rose 0.1% to $1,777 an ounce.

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