Commodities: US jobs data sparks sell-off
The crude oil price turned back from the $100 barrier in the wake of disappointing US unemployment figures.
The US government non-farm payroll figures for December showed a gain of 18,000 jobs, down from a revised 115,000 gain in November and significantly below the 70,000 expected by analysts.
The much lower than expected rise raised fears about a slowdown in the US economy which may reduce demand for oil.
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Gold ended an otherwise strong week on a dull note as the US unemployment data prompted profit taking. There was some selling impetus in the belief that the worsening US economy will reduce the physical demand for gold though the decline in the US dollar counteracted the downward pressure.
Silver, which is more widely used for industrial purposes than gold, also fell back, sliding 3.80 cents to $15.46 in New York. Platinum, palladium and copper also turned south.
