Dollar hits three-week high U.S. 10-year Treasury yield rises above 1.6% (Adds comment, updates prices)
June 4 (Reuters) - Gold was set for its biggest weekly decline since March on Friday, pressured by a firm dollar and upbeat U.S. data that pointed to a strengthening labor market, raising expectations for strong nonfarm payrolls data.
Spot gold was little changed at $1,870.07 per ounce by 1118 GMT, after hitting its lowest since May 19 at $1,855.59 earlier in the session.
U.S. gold futures traded 0.1% lower at $1,871.10 per ounce.
While a stronger-than-expected U.S. jobless claims data has already raised concerns about early tapering by the Federal Reserve, much really hinges on Friday’s job figures, as “gold has been building up for a correction for quite a long time now”, said Ole Hansen, head of commodity strategy at Saxo Bank.
Money market funds and equities saw almost similar inflows, BofA's latest fund flow statistics showed on Friday, in a puzzling investment trend amid rising concerns over a dialling back of stimulus by central banks.
Stocks and gold rallied while the dollar fell on Friday, as a weaker-than-expected U.S. jobs report eased concerns that a strong recovery in the world's biggest economy could prompt the Federal Reserve to shut off the stimulus taps sooner.
The track brings back the electrifying dancehall energy that was so beloved on Ware’s most recent singles, co-written by Jessie, Shungudzo Kuyimba, Model Child (Danny Parker) and SG Lewis, Hot N Heavy brings in familiar influences of 80’s electronica and the modern sensibilities that makes Jessie’s music so memorable. This, along with her truly outstanding vocals & tongue-n-cheek lyrics really set this track up to be the soundtrack to your summer. Hot N Heavy comes along with what has been a pretty stellar 12 months for Jessie Ware. Earlier this year saw What’s Your Pleasure? re-enter the top 10 following a performance on Graham Norton, alongside herBRIT nominations for Female Solo artist as well as Mastercard Album, with the energetic music video for her latest single ‘Please’ being released too. June 2020 saw Jessie gain not only her fourth UK Top 10 album of her career, but also her highest charting record at No.3. at UK Official Album Charts.