Gold jumps on weak job data and continuing slowdown effects

Posted on October 3, 2013 ยท Posted in Latest News

Gold price increased on Wednesday as the jobs data was released it suggested a sluggish job growth. Automatic Data Processing showed that more than 166,000 new jobs were created in the month of September although economists had expected to see a gain of 180,000 jobs in the month. The price of gold and silver improved on this data and other market trends.

Gold futures climbed to $1,320.70 per ounce by 2.7% on Wednesday and gold traded to reach the peak value of $1,324.20 while it touched a low at $1,276.90. The bullion value closed at $1,318 in London.

Silver futures for December month delivery reached $21.90 per ounce as it rose by 3.4%. Silver touched a low value of $20.99.

Source- investorplace