: Gold futures end lower, posts a 6th straight weekly gain
Gold futures finished lower on Thursday, with prices slipping back ahead of the weekend on profit taking, as caution set in ahead of Friday’s U.S. jobs report, said Michael Hewson, chief market analyst at CMC Markets UK. “A particularly strong jobs report could well pull [Treasury] yields off their lows of the week when markets reopen next week, especially if inflation numbers next week also surprise to the upside,” he said. Still, prices based on the most-active contract ended the holiday-shortened trading week with a sixth consecutive weekly gain, as prices for the metal found support from concerns about a potential recession. Gold for June delivery GCM23 fell $9.20, or nearly 0.5%, to settle at $2,026.40 an ounce on Comex. For the week, the most-active contract climbed 2%, according to Dow Jones Market Data.
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