Gold rises after US jobs data
Gold prices rose on Friday, as the US dollar fell against most currencies, after the US monthly jobs report.
The US reported yesterday its second case but with mild symptoms so far.
The US Department of Labor reported today that the economy has added 210,000 new jobs in November, missing forecasts of 570,000 new jobs.
The unemployment rate fell to 4.2% from 4.6% in September, better than forecasts of 4.5%.
The Institute for Supply Management (ISM) reported that the US manufacturing PMI grew to 69.1 points in November from 66.7 points, beating forecasts of 64.9 points.
The dollar index fell against a basket of major currencies by 0.1% to 96.01 points as of 19:45 GMT, after hitting a high of 96.4 points and a low of 95.9 points.
Gold spot prices rose 1.2% to $1,784 an ounce as of 19:46 GMT.
Dollar inches lower after US monthly jobs report
The US dollar fell against most currencies on Friday, after the mixed monthly jobs report.
The highly contagious Omicron variant has appeared in more than 20 countries so far, as the US yesterday reported its second case but with mild symptoms so far.
The US Department of Labor reported today that the economy has added 210,000 new jobs in November, missing forecasts of 570,000 new jobs.
The unemployment rate fell to 4.2% from 4.6% in September, better than forecasts of 4.5%.
The Institute for Supply Management (ISM) reported that the US manufacturing PMI grew to 69.1 points in November from 66.7 points, beating forecasts of 64.9 points.
The dollar index fell against a basket of major currencies by 0.1% to 96.01 points as of 19:42 GMT, after hitting a high of 96.4 points and a low of 95.9 points.
US manufacturing sector grows in November
The Institute for Supply Management (ISM) data showed that the US manufacturing activity grew during the last month.
The ISM US manufacturing PMI rose to 69.1 points in November from 66.7, while analysts forecast a drop to 64.9.
Canadian unemployment falls to lowest level since February 2020
At 13:30 GMT, the Canadian economy released the unemployment rate for November at 6%, the best reading since February 2020, beating forecasts of 6.6%, and better than the previous reading of 6.7%. This data is positive for the Canadian dollar.