Gold ends lower but logs 2% weekly gain

Gold prices ended in the red today, April 6, but recorded a weekly gain amid continued fears of a recession in the world’s largest economy — the US.

Today's US Labor Department data showed that jobless claims fell by 18,000 to 228,000 applications in the week ended April 1, against expectations of a 200,000 pullback.

Meanwhile, the US monthly non-farm payrolls report is expected to be out tomorrow, April 7, with the economy projected to have added 240,000 jobs in March.

At settlement today, gold futures for June delivery declined 0.50%, or $9.20, to $2,026.40 an ounce, but registered a weekly gain of 2%.

On the other hand, the US dollar index, which gauges the greenback's strength against a basket of six currencies, held ground at 101.80 points at 8:49 pm Makkah time.