Gold futures in New York tumbled on Friday before an early close as the dollar climbed on US payrolls data for August, while silver slid off a three-month high atop $13 an ounce on profit-taking.
At the New York Mercantile Exchange, COMEX December gold futures were down $4.40 at $629.80 an ounce at 10:25 am EDT (1425 GMT), trading between a nine-day peak at $635.90 and $628.
COMEX and NYMEX metals settle early at around noon EDT on Friday and the markets will remain shut on Monday for the US Labour Day holiday. Gold extended losses after the dollar gained versus the euro on news that US employers added 128,000 jobs, slightly higher than forecasts for 120,000. The data suggested that the Federal Reserve may not need to hike interest rates further. Dealers said December gold futures looked to be caught in a medium-term range of $605 to $660 an ounce.
Spot gold fetched $619.60/620.60 an ounce, down from $625.20/6.20 late Thursday in New York. Friday's afternoon spot reference rate was fixed in London lower at $621.05.
Greg Weldon, author of the Metal Monitor report, said spot gold had chart support at $606 an ounce, with resistance seen at $636.
December silver fell 13.0 cents to $12.90 an ounce, within a range of $13.08 to $12.8250.
Thursday's finish was the highest on a closing basis since May 30, bolstered by ongoing investment buying in the market amid positive technicals for silver versus gold and good demand for a silver exchange-traded fund.
Silver has outperformed gold in recent weeks, rising about 33 percent in value since mid-June. Gold has climbed around 12 percent in the same period. A falling gold/silver ratio also was supportive, said analysts, with number of ounces of silver needed to buy one of gold this week slipping below 50 to 1 for the first time since 1999.
Spot silver eased to $12.71/12.78 an ounce in New York, from $12.83/90. Friday's fix reached $12.75.
In platinum, NYMEX October futures dipped $1.20 to $1,250 an ounce. Spot platinum edged to $1,243/49.
December palladium was the only gainer, up $2.80 at $351.50 an ounce. Spot hit $342/347.
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