Gold price gains 2.5% in week

New York (Feb 4)  The prices of gold ended Friday up, backed by the latest US jobs report, in which the number of jobs increased and surpassed expectations.

On a weekly basis, the precious metal increased 2.5% to close at $1,218.5 per ounce, up from $1,188.1 per ounce by the end of last week.

Meanwhile, the dollar index, which measures the greenback against a basket of six major currencies, slipped 0.09% to 99.73 points.

Data released by the US Department of Labour showed that the US economy added 227,000 jobs in January, surpassing estimates of 175,000 new jobs.

The economy also added 157,000 jobs in December 2016, the report showed.

Source: Mubasher