Gold rises ahead of US jobs data

Gold prices rose on Friday, as the US dollar fell against its peers ahead of the US monthly jobs report.

Analysts forecast that the US economy has added nearly 1 million jobs (990,000 new jobs) during April, but the unemployment rate rose to 7.8% from 7.5%.

This indicates that the US economy is continuously recovering from the pandemic impact, especially after the US success in containing the outbreak by distributing tens of millions of vaccines.

The dollar index fell against a basket of currencies by 0.1% 90.8 points as of 11:08 GMT, after it hit a high of 90.9 points and a low of 90.7 points.

Gold June futures rose 0.2% or $4.20 to $1,820.1 an ounce, with a high of $1,823.5 and a low of $1,813.4.