Gold fell today after the dollar strengthened due to weaker-than-expected weekly U.S. unemployment data. Additionally, U.S. President Donald Trump toned down his rhetoric on Iran, which affected demand for the precious metal considered a safe haven. Spot gold declined 0.3% to $2,307.59 per ounce, while the yellow metal hit a record high of $2,342.72 in the previous session. U.S. gold futures for February delivery slid 0.5% to $2,312.50. Data showed that the number of new U.S. unemployment benefit claims unexpectedly decreased last week, pushing the dollar index to its highest levels since December 2nd and making the precious metal more costly for holders of other currencies. Gold, which yields no return, typically rises when interest rates are low and during times of geopolitical and economic uncertainty.
