Gold rises after poor U.S. employment data
Duncan Richardson, News Editor
6 Feb 2014, 11:24 a.m.
Gold closed higher yesterday after the release of disappointing U.S. employment data left the markets uncertain over the strength of the U.S. recovery.
U.S employers only added 175,000 workers in January which was lower than analysts had forecasted. December’s figures were also downgraded to 227,000 from 238,000.
Following the data release gold spiked to a session high of $1,273.26 an ounce and the value of the dollar fell, gold eventually finished the day 0.2% up at $1,256 per ounce.