Money Market Guru — April gold was down $1.80, or 0.2%, to settle at $1,201.40/oz. Gold futures nudged lower Friday, having dropped every day this week in anticipation of an interest rate hike from the Federal Reserve. The Fed is expected to announce its rate hike Wednesday.
The Labor Department said non-farm payroll employment jumped by 235,000 jobs in February after surging up by a revised 238,000 jobs in January. Economists had expected employment to climb by about 195,000 jobs compared to the addition of 227,000 jobs originally reported for the previous month.
Canadian employment increased by 15,300 jobs in February after jumping by 48,300 jobs in January. The figure came as a surprise to economists, who had forecast the jobs to fall by 5,000. The jobless rate declined to 6.6 percent from 6.8 percent in January. Economists were looking for the jobless rate to remain unchanged for the month. — Money Market Guru — Pia