PRECIOUS-Gold cascades down as strong US jobs data and stop-selling weigh ...Middle East

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PRECIOUS-Gold cascades down as strong US jobs data and stop-selling weigh
source : Devdiscourse ( Middle East ) () 54
​Gold prices fell to a near one-week low on Thursday as strong U.S. labour data dampened hopes of near-term Federal Reserve rate cuts, with a break ‌below $5,000 an ounce deepening losses as selling pressure intensified. Spot gold slipped 2.7% lower to $4,941.47 per ounce by 11:50 a.m. ET (1650 GMT). Bullion slipped to its lowest level since February 6 earlier in the session.

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