Gold futures dropped 2.7% on Friday, with a rally in the U.S. dollar following a strong February U.S. jobs report fueling a decline in the metal’s prices to their lowest settlement since mid-November.
Gold for April delivery on Comex GCJ5, -2.34% dropped $31.90, or 2.7%, to settle at $1,164.30 an ounce. Based on the most-active contracts, prices haven’t settled at a level this low since Nov. 13. For the week, they logged a 4% decline.
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