Khaberni - Gold and silver prices rebounded on Friday thanks to buying activities after they had dropped to their lowest levels in a week during the previous session when selling pressures increased after strong US job data limited expectations of an interest rate cut.
By 01:27 GMT, spot gold had climbed 1% to $4966.83 per ounce after dropping more than 3% on Thursday to almost its lowest level in a week below the five thousand dollar mark.
U.S. futures contracts for gold, delivery in April, gained 0.7% to $4985.40 per ounce.
The spot silver price rose 2.1% to $76.76 per ounce after plunging on Wednesday.
The dollar was largely unchanged against major currencies on Thursday, maintaining its stability after mixed signals from the latest US economic data.
An increase in the dollar raises the cost of metals priced in the U.S. currency for holders of other currencies.
Data released on Wednesday showed that the U.S. job market started the year 2026 stronger than expected, which boosts speculations of keeping interest rates higher for a longer period.
The number of non-farm jobs increased by 130,000 in January, after an adjusted decrease of up to 48,000 jobs in December. The unemployment rate fell to 4.3%.
Data from Thursday showed that initial jobless claims fell to 227,000 for the week ending on February 7.
Investors are now awaiting inflation data due to be released later for more indications on the direction of the Federal Reserve's monetary policy (the U.S. central bank).
For other precious metals, spot platinum increased by 1.7% to $2033.15 per ounce, and palladium rose by 1.4% to $1639.99 per ounce.
