wake of the monthly domestic jobs report dulled investment demand for the precious metal.
Prices, however, gained for the week, buoyed by uncertainty surrounding the pace of interest-rate increases by the Federal Reserve.
February gold GCG7, -0.71% fell $7.90, or 0.7%, to settle at $1,173.40 an ounce, after notching its highest settlement in five weeks on Thursday. Expectations about the pace of rate increases—a negative for gold that doesn’t offer a yield—has cooled somewhat. For the week, the yellow metal tallied a 1.8% gain, according to Fact Set data.
Meanwhile, March silver SIH7, -0.73% was off 11.8 cents, or 0.7%, at $16.519 an ounce, paring its weekly rise to roughly 3.3%. March copper HGH7, +0.26% added less than a cent to $2.546 a pound—up about 1.6% for the week.
The Labor Department reported that 156,000 jobs were added in December to cap off the sixth straight year in which the economy created more than 2 million new jobs. Economists polled by Market Watch had predicted a 180,000 increase in new nonfarm jobs. The unemployment rate rose to 4.7% from 4.6%.
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