Gold Heads for Third Weekly Gain as Yields, Dollar Trend Down swissinfo.ch - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swissinfo.ch Daily Mail and Mail on Sunday newspapers.
Gold Declines Amid Stronger-Than-Expected U.S. Jobs Report
Bloomberg 5 hrs ago Yvonne Yue Li
(Bloomberg) Gold fell the most in more than a week as better-than-expected U.S. jobs data reduced its appeal as a safe haven.
Applications for state unemployment insurance unexpectedly plunged to a fresh pandemic low as the recovery gathers steam. Initial claims decreased by 39,000 to 547,000 in the week ended April 17, Labor Department data showed Thursday. Economists in a Bloomberg survey had forecast 610,000 in claims.
After a record-breaking rally last year, bullion has lost momentum amid the advancing dollar and rising bond yields. Investors remain focused on the economic outlook, with rising bond yields denting demand for non-interest bearing bullion.
India’s gold imports from Switzerland surged to highest in almost eight years in March, in a sign that Asian consumers are once again a key pillar of support for the precious metal.
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