Gold Futures Rally Nearly 2% After Payrolls Report

Source:

"Gold futures rallied Friday as a negative jobs report was thought to be a catalyst for additional U.S. economic stimulus coming sooner rather than later."

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MarketWatch, Claudia Assis and Sara Sjolin

Gold futures rallied Friday as a negative jobs report was thought to be a catalyst for additional U.S. economic stimulus coming sooner rather than later.

Other metals futures tracked gold higher on the Comex division of the New York Mercantile Exchange.

Gold for December delivery advanced $24.80, or 1.5%, to $1,730.50/ounce, after having gained 0.7% on Thursday as European Central Bank chief Mario Draghi detailed plans to help struggling euro-zone economies through bond purchases.

U.S. nonfarm payrolls rose by 96,000 (96K) in August, the U.S. Labor Department reported earlier Friday. This came in well below market estimates around 125K and paled compared to July’s revised growth of 141K jobs. . .View Full Article

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