Dollar rallies after US monthly jobs report
The US dollar rose against most of its rivals on Friday, extending gains after the release of the monthly jobs report.
The US Labor Department revealed that the US economy has added 379,000 jobs during, better than forecasts of adding 197,000 new jobs.
The unemployment rate was at 6.2%, better than forecasts and the previous reading of 6.3%.
The yield of 10-year US Treasury bonds rose to 1.6%, which foreshadows more pressure on stocks.
The US health authorities are intensifying efforts to contain the coronavirus, and have advised citizens to get any available vaccine to prevent the virus.
The dollar index rose against a basket of major currencies by 0.4% to 91.9 points as of 19:05 GMT, after hitting a high of 92.1 points and a low of 91.6 points.
Gold ends below $1,700 for first time since June, logs weekly loss
Gold prices closed lower on Friday, as the US dollar rose against its counterparts, and posted a weekly loss due to high US Treasury bond yields.
The US Labor Department revealed that the US economy has added 379,000 jobs during, better than forecasts of adding 197,000 new jobs.
The unemployment rate was at 6.2%, better than forecasts and the previous reading of 6.3%.
The yield of 10-year US Treasury bonds rose to 1.6%, which foreshadows more pressure on stocks.
The dollar index rose against a basket of major currencies by 0.4% to 91.9 points as of 21:18 GMT, after hitting a high of 92.1 points and a low of 91.6 points.
Gold April futures fell 0.1% or $2.2, and closed at $1,698.4 an ounce, the first time to close below the $1700 barrier since June 2020, and posted a weekly loss of 1.7%.
Silver logs more than 4% weekly loss
Silver futures closed lower on Friday, as the US dollar rose against its counterparts, and the precious metal posted large weekly losses after the release of the US monthly jobs report.
The US Department of Labor revealed that the US economy has added 379,000 jobs during, better than forecasts of adding 197,000 new jobs, and the unemployment rate was at 6.2%, better than forecasts and the previous reading of 6.3%.
The yield of 10-year US Treasury bonds rose to 1.6%, which foreshadows more pressure on stocks.
The dollar index rose against a basket of major currencies by 0.4% to 91.9 points as of 21:18 GMT, after hitting a high of 92.1 points and a low of 91.6 points.
Silver May futures fell 0.7% or 17 cents, and closed at $25.287 an ounce, and posted a weekly loss of 4.5%.