‘Gold prices drop to $2,017 per ounce’ – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News
- Date: 08-May-2023
- Source: Arab Times Kuwait
- Sector:Financial Markets
- Country:Kuwait
‘Gold prices drop to $2,017 per ounce’ – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News
This post has been read 234 times!
KUWAIT CITY, May 7: Gold prices declined at the end of last week, closing at USD 2,017 an ounce, after achieving a historic high of USD 2,072 an ounce last Wednesday. Gold declined by 1.5 percent, however, it maintained a level above USD 2,000 an ounce after data was issued from the US labor market, as the jobs report there showed an increase in employment by 253,000 jobs, while US unemployment declined to its lowest level in half a century at 3.4 percent, the Kuwaiti-based company Dar Al-Sabaek said in a report Sunday. The rise in US Treasury yields for two years and 10 years had a sharp impact on gold after it reached 3.9 percent and 3.44 percent respectively, as the strength of the dollar fell slightly by less than half a percent, the report added.
Select Sector 
Select Country 
