Gold prices ticked lower on Thursday, after unexpectedly strong U.S. jobs data for January dented hopes for more interest rate cuts from the Federal Reserve in the near term.
Spot gold edged 0.3% lower to $5,064.29 per ounce by 1014 GMT. U.S. gold futures for April delivery lost 0.2% to $5,086.50 per ounce.
Spot silver fell 0.7% to $83.47 per ounce, after a 4% climb on Wednesday.
"Gold eased back from above $5,100 and silver from above $86 after stronger-than-expected U.S. jobs data tempered expectations of imminent Fed rate cuts, lifting the dollar," said Ole Hansen, head of commodity strategy at Saxo Bank.
Spot gold edged 0.3% lower to $5,064.29 per ounce by 1014 GMT. U.S. gold futures for April delivery lost 0.2% to $5,086.50 per ounce.
Spot silver fell 0.7% to $83.47 per ounce, after a 4% climb on Wednesday.
"Gold eased back from above $5,100 and silver from above $86 after stronger-than-expected U.S. jobs data tempered expectations of imminent Fed rate cuts, lifting the dollar," said Ole Hansen, head of commodity strategy at Saxo Bank.
