Gold News & Info

Source: Marketwatch

New York— Gold futures fell Thursday, ending near $930 an ounce as the U.S. dollar strengthened against most of its rivals after a disappointing U.S. jobs report boosted demand for the dollar, reducing gold's appeal as an investment alternative. The dollar rose after the Labor Department reported Thursday nonfarm payrolls shrank by 467,000 in June, higher than the 325,000 decline expected by economists surveyed by MarketWatch. Other metals also moved lower. August gold ended down $10.30, or 1.1%, at $931 an ounce on the Comex division of the New York Mercantile Exchange. The loss came on the heels of gold's 1.5% gain Wednesday.

"The U.S. dollar was seen benefiting from" the jobs data, said Jon Nadler, senior analyst at Kitco Metals Inc. "Thus, gold unwound the bulk of yesterday's gains." With Thursday's loss, gold futures ended the week down 1.1%. Trading is closed Friday in observance of the Independence Day holiday. See full story.