Gold On MCX Settled Down -1.05% At 31456 Pulling Back

Gold on MCX settled down -1.05% at 31456 pulling back from a peak, as robust U.S. jobs data eased some concerns about an ailing economy.

Data showed U.S. employers hired the most workers in 10 months in December, suggesting a sustained strength in the economy that could soothe concerns of sharp slowdown in growth.

Fed Chairman Jerome Powell moved to mollify financial markets concerned about a U.S. economic slowdown, saying that while momentum is solid, the central bank will be sensitive to the downside risks the market is pricing in.

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