gold Prices showed the most severe one-day decline in almost a month after the publication of employment report in the U.S., which eased fears about a possible recession.
gold Futures for SOMEKH decreased by $ 18, or 1.2% to 1465,10 dollars per ounce, while silver fell 2.7%, to 16,596 USD per ounce.
Many investors consider silver and gold as a protective asset in times of slower economic development. These metals are becoming more attractive for investments, when interest rates decrease, because these assets do not bring interest income.
As reported by the U.S. labor Department, the number of jobs in November increased by 266 000, exceeding analysts ' expectations, and the unemployment rate fell to the lowest level in 50 years.
stronger-than-expected report on the number of jobs outside of agriculture have shown that as the national economy remains good, despite a trade war with China and the global recession. In this regard, the prospects of asset-havens such as gold have been declining.
in addition, the pressure on gold has a strengthening US dollar. The ICE dollar index rose 0.2% after declining for the six consecutive days.
