Gold gains briefely as gloomy US jobs, economic outlook dents dollar

By Brijesh Patel (Reuters) - Gold prices rose on Friday after bleak U.S. jobless claims data reinforced fears of a slower recovery from the coronavirus-induced economic crisis, denting the dollar and U.S. Treasury yields. Spot gold was up 0.3% at $1,947.83 per ounce by 0503 GMT. Gold is up 0.2% so far this week, having shed 4.

5% in the week to Aug. 14, its worst in five months. U.S. gold futures rose 0.5% to $1,956.10. "A deterioration in U.S. labour market data, falling bond yields and continued geopolitical tensions.

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