Gold Prices Slip as Robust US Jobs Report Lifts the Dollar

Gold prices dipped on Thursday, as the US dollar firmed after stronger-than-expected January jobs data dented expectation for near-term interest rate cuts, while investors awaited inflation data ​due on Friday for more monetary policy cues.

Spot gold edged 0.3 percent lower to $5,065.98 per ounce by 0318 GMT. It closed Wednesday with a more than 1 percent gain.

US gold futures for April delivery lost 0.2 percent to $5,087.30 per ounce.

The US dollar index rose following the surprisingly strong employment ⁠report that suggested underlying US economic health. ​A stronger dollar makes greenback-priced metals ⁠more expensive for other currency holders.

Spot silver fell 0.3 percent to $83.81 ​per ounce, after a 4 percent climb on Wednesday.

Spot platinum ⁠shed 0.3 percent to $2,126.52 per ounce, while palladium rose 1.4 percent to $1,722.67.