Gold ends higher, but still posts weekly loss
Gold futures closed higher on Friday, while the US dollar fell against most of its peers after the disappointing US data, but the metal posted a weekly loss.
The US Department of Labor reported that the economy has added 559K new jobs in May, missing forecasts of 645K.
The US unemployment rate fell to 5.8% in May from 6.1% in April, better than analysts' forecasts of 5.9%.
The ADP Non-Farm Employment Change reading showed yesterday a rise by 978K jobs in May, while analysts forecast 645K.
The dollar index fell against a basket of major currencies by 0.4% to 90.1 points as of 18:49 GMT, after hitting a high of 90.6 points and a low of 90.1 points.
Gold August futures rose 1.5% or $18.7, and closed at $1,892 an ounce, and posted a weekly loss of 0.7%.
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