TELETRADER News
6/2, 8:28 PM
(Source: TeleTrader)
Gold drops 1.25% after US unemployment report
Spot gold declined 1.25% to $1,953.13 per ounce at 2:29 pm ET after the latest jobs report from the United States showed an increase in nonfarm employment of 339,000 while the unemployment rate increased by 0.3 percentage points to 3.7%.
US Treasury yields increased seemingly rose as a result of the latest figures, affecting the appeal of precious metals that bear no interest.
Silver fell 0.99% to land at $23.65 per ounce at 2:32 pm ET. Platinum lost 0.31% to $1,006.02 per ounce at 2:33 pm ET. Meanwhile, palladium advanced 1.63% to $1,403.52 per ounce concurrently.