Gold futures on Friday shook off losses seen shortly after the release of better-than-expected U.S. employment data, to settle higher as renewed worries about the spread of the coronavirus and it’s impact on the global economy worked to pull U.S. benchmark stock indexes down from record levels.

The precious metal is still viewed by some commodity experts as a go-to asset in the face of an expected period of lower interest rates globally and nagging concerns about Wuhan virus.

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The U.S. created a better-than-expected 225,000 new jobs in January, reflecting surprising resilience in the labor market. The increase in new jobs easily surpassed the 164,000 forecast of economists surveyed

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