Gold, silver dip as dollar rises after strong US jobs data

Gold and silver fell on Thursday as the US dollar firmed after stronger-than-expected January jobs data dented expectation for near-term interest rate cuts, while investors awaited inflation data due on Friday for more monetary policy cues. Fundamentals; Spot gold was down 0.4% at $5,058.64 per ounce by 0134 GMT after rising more than 1% in the previous session. U.S. gold futures for April delivery lost 0.3% to $5,080.0 per ounce.Spot silver fell 1.4% to $82.87 per ounce, after a 4% climb on Wednesday. The U.S. dollar index rose, building on Wednesday’s rally following the surprisingly strong employment report that suggested underlying U.S. economic health. A stronger dollar makes greenback-priced metals more expensive for other currency holders.