Gold ends lower after strong jobs report, down 3 weeks in a row

Gold futures ended lower on Friday, at their lowest level in nearly three months and down a third week in a row, after a stronger-than-expected jump in May nonfarm payrolls.

Gold for August delivery on Comex GCQ5, -0.29%  fell $7.10, or 0.6%, to settle at $1,168.10 an ounce. Prices settled at the lowest for a most-active contract since March 18. For the week, prices were down about 1.8%.

July silver SIN5, -0.05%  also lost 11.9 cents, or 0.7%, to $15.984 an ounce. Prices lost about 4.3% for the week.

The Commerce Department said the U.S. economy added 280,000 new jobs in May, the biggest jump since the end of 2014 and well above the consensus forecast of 210,000 produced by a MarketWatch survey of economists. The unemployment rate edged up to 5.5% from 5.4%.

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