By Anna Andrianova, MarketWatch
NEW YORK (MarketWatch) — Gold prices extended losses on Friday after the release of the U.S. employment report, which fell short of analysts’ expectations and signaled a slowdown in the labor market.
Gold futures for August delivery GCQ2 -1.23% fell $20, or 1.2%, to $1,589.40 per ounce on the Comex division of the New York Mercantile Exchange.
The contract had been down $13 before the data release and briefly bounced up as a reaction to the weak economic data, only to later deepen losses and fall below the key 1,600-per-ounce level.
By Anna Andrianova, MarketWatch
NEW YORK (MarketWatch) — Gold prices extended losses on Friday after the release of the U.S. employment report, which fell short of analysts’ expectations and signaled a slowdown in the labor market.
Gold futures for August delivery GCQ2 -1.23% fell $20, or 1.2%, to $1,589.40 per ounce on the Comex division of the New York Mercantile Exchange.
The contract had been down $13 before the data release and briefly bounced up as a reaction to the weak economic data, only to later deepen losses and fall below the key 1,600-per-ounce level.
