Jordan: Gold prices fell in Asian trading on Friday as a stronger US dollar pressured the market, while investors awaited key US employment data for clues on the future path of monetary policy. Spot gold declined by 0.4% to $4,458.10 an ounce. In contrast, US gold futures for February delivery edged up 0.2% to $4,467.60 an ounce. The move comes as markets remain cautious ahead of upcoming US jobs figures, which are expected to influence expectations around interest rate policy.
According to Qatar News Agency, other precious metals also recorded losses. Spot silver dropped 1.5% to $75.71 an ounce, retreating from its record high of $83.62 reached on December 29. Platinum fell more sharply, sliding 2.9% to $2,202.50 an ounce, after hitting an all-time high of $2,478.50 earlier this week. Palladium also declined, shedding 2.1% to $1,749.25 an ounce.
Analysts say recent pullbacks in precious metals reflect profit-taking following record highs, alongside shifts in currency markets and investor positioning ahead of US economic data.