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Gold books third straight loss as jobs report looms

A rebounding dollar puts pressure on gold.

Gold futures succumbed to a rebounding dollar to end lower Thursday, a day ahead of a closely watched jobs report that could influence the path of the yellow metal.

Gold had spent much of the session in positive territory, trading as high as $1,288.40 an ounce, before legging lower only a few minutes before it settled on Comex. However, futures for silver enjoyed a modest gain. July silver SIN6, +0.23% climbed 2.6 cents, or 0.2%, to $17.327 an ounce.

June gold GCM6, +0.16% declined $2.10, or 0.2%, to $1,272.30 an ounce, marking the third decline in a row for the precious metal.

The dollar had been putting pressure on precious metals prices throughout the session. The ICE U.S. dollar index DXY, +0.55% —a gauge of the greenback against a basket of half a dozen currencies—rose 0.7% in afternoon trade Thursday. A stronger buck tends to deflate appetite for dollar-priced metals, making them more expensive to buyers using other currencies.

Stephen Kalayjian, chief market technician at research firm KnowVera Research, described gold’s moves as...


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