Gold Market Update

Gold futures on Friday sank more than 3% to settle at their lowest level since mid-January after an encouraging U.S. jobs report provided support for the dollar, drawing investors’ attention away from the haven metal.

Gold for April delivery GCJ5, -2.33%  shed $28.10, or 2.2%, to settle at $1,234.60 an ounce. They marked their lowest settlement since Jan. 14, according to FactSet data. Prices saw a loss of 3.5% for the week.