Gold Jumps $8.2 After Disappointing U.S. Non-Farm Payrolls Figures

Gold futures closed higher Friday (Jan. 7) after gold prices dipped back below $1,800 as U.S. nonfarm payrolls came in well below expectations.

  • Gold futures were up $8.2, or 0.46%, at $1,797.4 per ounce. which in this week The gold contract was down 1.7%.
  • Silver futures were up 21.9 cents, or 0.99%, at $22.409 an ounce.
  • The platinum contract was down $4.2, or 0.44%, at $956.5 per ounce.
  • The palladium contract was up $47.70, or 2.6%, at $1,921.60 an ounce.

Investors have bought gold contracts as a safe haven asset. After being disappointed with the release of lower-than-expected US employment numbers.

After the disappointing U.S. labor market data, which fell short of expectations, the price of gold was able to rebound. The U.S. Department of Labor announced that non-farm payrolls rose by only 199,000 in December, while the unemployment rate fell to 3.9%.

Gold contracts were also supported by the weaker dollar. The dollar index against the six major currencies in a basket of currencies fell 0.61% overnight to 95.7275.

The Spot Market is Closed

Saturday, January 8, 2022

Metals
Updated at
USD
Bid/Ask
Ounce
Change

Low/High
Gold
05.00
1,797.00
1,798.00
+6.10
0.34%
1,781.70
1,799.50
Silver
05.00
22.35
22.45
+0.19
0.83%
21.91
22.52
Platinum
05.00
959.00
969.00
-5.00
-0.52%
946.00
980.00
Palladium
05.00
1,875.00
2,025.00
+59.00
3.25%
1,800.00
2,038.00
Rhodium
05.00
16,500.00
18,500.00
+500.00
3.13%
16,000.00
18,500.00

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