Metals Stocks: Gold bounces off 2019 low, but suffers 5th weekly loss in 6 weeks

Gold futures climbed Friday, recouping some of the sharp loss from a day earlier that sent prices to their lowest level of the year, but the precious metal still registered a loss for the week—their fifth in six weeks.

Data Friday revealed that the U.S. created a larger-than-expected 263,000 new jobs in April, which helped the unemployment rate fall to a 49-year low of 3.6%.

In reaction, however, the dollar edged lower, with the ICE U.S. Dollar Index DXY, -0.35% down 0.3%, contributing to a weekly decline so far of 0.5% as gold futures settled. Weakness in the buck provides support for dollar-denominated gold.

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