Gold Rises From Two-Week Low as Jobs Spur Stimulus Bets
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Gold rose from a two-week low after U.S. payroll gains last month trailed estimates by analysts, reviving prospects for extended economic stimulus by the Federal Reserve and stoking demand for the metal as a store of value.
Employers added 169,000 workers after an increase in July of 104,000 that was smaller than first estimated, government figures showed today. The median forecast of 96 economists surveyed by Bloomberg called for an August gain of 180,000. Gold has fallen 17 percent this year partly on speculation that the Fed would curb bond purchases as soon as this month.