02:00 PM EST, 02/07/2025 (MT Newswires) -- (Updates prices.)

Gold rose early on Friday, supported by safe-haven buying even as the dollar rose after the United States added fewer new jobs than expected in January.

Gold for April delivery was last seen up US$12.30 to US$2,889.00 per ounce. The price of the metal rose to a record high of US$2,893.00 on Wednesday.

The price of the metal is being supported by safe-haven buying amid global turmoil spurred by U.S. President Donald Trump's imposition of 10% tariffs on imports from China and threats to impose 25% levies on imports from Mexico and Canada.

The U.S. Bureau of Labor Statistics on Friday reported the addition of 143,000 jobs in January, down from 307,000 in December and below the consensus estimate for 170,000 new positions, according to FactSet.

The dollar rose following the U.S. data, with the ICE dollar index last seen up 0.38 points to 108.07.

Treasury yields were sharply higher following the U.S. employment report, with the yield on the two-year note last seen up 6.9 basis points to 4.291%, while the 10-year note was paying 4.499%, up 5.4 points.