Gold soars while dollar dips after US jobs data

Gold prices rose on Friday after a slightly weaker-than-expected US jobs report sent the dollar and Treasury yields lower, allowing some recovery for bullion, which is still on track for its worst week in six weeks.

In its closely watched jobs report, the Labor Department said non-farm payrolls increased by 187,000 jobs last month. Economists polled by Reuters had expected an increase of 200,000 jobs

Gold in instant transactions rose 0.4% to $ 1940.86 an ounce by 1852 GMT. However, the price of the yellow metal has decreased by 0.9% since the beginning of the week

US gold futures closed 0.4% higher, at $1,976.10

After the release of the jobs data, the dollar fell 0.5% against its competitors, which makes gold less expensive for holders of other currencies. The record US Treasury bill yields for 10 years fell from the highest level in nine months.

As for other precious metals, silver rose in spot transactions by 0.1%, to $23.58 an ounce, and platinum increased by 0.6%, to $919.36. Palladium fell 0.1% to $1,256.97 an ounce.