Gold rises on weaker U.S. dollar
Sep 03, 2022
Chicago [US], September 3: Gold futures on the COMEX division of the New York Mercantile Exchange rose on Friday as the U.S. dollar weakened.
The most active gold contract for December delivery rose 13.3 U.S. dollars, or 0.78 percent, to close at 1,722.6 dollars per ounce.
Gold fell more than 1 percent for the week.
The U.S. Labor Department released the nonfarm payrolls report Friday, showing the United States added 315,000 new jobs in August, higher than market expectations. And the unemployment rate climbed to 3.7 percent in August from 3.5 percent in July, also higher than market expectations.
The U.S. Commerce Department reported Friday that U.S. factory orders dropped 1 percent in July after increasing 1.8 percent in June, lending additional support to gold.
Silver for December delivery rose 21.5 cents, or 1.22 percent, to close at 17.881 dollars per ounce. Platinum for October delivery rose 12.8 dollars, or 1.59 percent, to close at 818.3 dollars per ounce.
Source: Xinhua
