Gold slips as surprising rise in US employment points to recovery

World’s largest economy unexpectedly added jobs in May after suffering record losses in prior month

Pure gold ore is shown on the stone floor of a mine. Picture: 123RF/PHAWAT KHOMMAI

Spot gold was down 0.2% at $1,682.57 per ounce, at 2.41am. US gold futures were up 0.3% at $1,688.10. The US economy unexpectedly added jobs in May after suffering record losses in the prior month, data on Friday showed, indicating that the downturn triggered by the coronavirus outbreak is probably over and boosting equity markets.However, showing signs that the effects from the pandemic are still present, China’s exports contracted in May, after a surprising gain in April, while imports fell more-than-expected to a four-year low.

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