Gold prices decline as investors take profits

Gold prices dropped on Thursday as investors took profits after a three-day rally, with markets watching US jobs data for hints on the Federal Reserve’s rate direction amid increasing trade tensions.

Spot gold prices dropped at 1:10 PM GMT by 0.43 per cent to $2,906.42 per ounce, compared to the previous closing price of $2,918.96.

Meanwhile, US gold futures fell 0.41 per cent to $2,913.89 per ounce, compared to Tuesday’s closing of $2,926.

Attribution: Amwal Al Ghad English, Reuters

Subediting: Y.Yasser