Gold spiked on Friday as a retreat in the dollar helped the metal to snap four days of losses, as did a weaker-than-expected U.S. jobs report.
The economy south of the border created 160,000 jobs in April, lower than economist expectations while the unemployment rate held steady at 5%
Equity experts had expected the non-farm payrolls report to show growth of 202,000 and the jobless rate to stay at 5%
The metal has rallied nearly 21%this year on expectations that the U.S. Federal Reserve will slow the pace of rate increases.
Spot gold rose 1.1% to $1,291.21 U.S. an ounce, while U.S. gold futures for June delivery gained $20.90 to $1,293.30 U.S. For the week, however, gold was set for a 1% drop, its biggest decline since the week ended March 25.
