Economic news

Gold on course for weakest performance in over a week

Gold slumped on Friday, pushing prices for their lowest level in more than a week as strong U.S. jobs data for the month supported the dollar.

August gold futures fell 0.5%, to $1,297.70 an ounce, with the contract lost almost 0.8% for the week. July silver was almost unchanged at $16.45 an ounce, with the contract slid 0.6% for the week.

The ICE U.S. Dollar Index ticked up 0.2% to 94.18. The index added 2.4% for May, though was so far steady for the week.

Economic figures on Friday showed that the U.S. economy added 223,000 new jobs in May, pushing unemployment level down to an 18-year trough of 3.8%.

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