Gold jumps on weak job data and continuing slowdown effects

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

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