Gold Gets a Reprieve as Payrolls Sputter Quashes Fed Rate Bets
- U.S. economy added fewest jobs in almost six years last month
- Gold futures post the biggest advance in 11 weeks in N.Y.
Employers Added Fewest Jobs in Nearly 6 Years
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Gold has been rescued by U.S. payrolls. Again.
The metal had the biggest gain in 11 weeks after the U.S. added the fewest workers in almost six years, weakening the case for the Federal Reserve to raise interest rates. Before the jobs report Friday, a gauge of volatility in bullion fell to an almost four-month low, and the volume of U.S. futures this week was the least since the start of the year. Mining shares rose.