Gold Futures Gain for First Time in a Week on U.S. Payroll Data
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Gold rose for the first time in a week after a government report showed U.S. employers added fewer workers than forecast in April, raising speculation that the Federal Reserve will boost stimulus measures to spur growth.
Payrolls climbed 115,000, the smallest gain in six months, the Labor Department said. The median estimate of 85 economists surveyed by Bloomberg News called for a 160,000 advance. Bullion surged 70 percent from the end of December 2008 through June as the Fed held borrowing costs at a record low and bought $2.3 trillion in housing and government debt during two rounds of so-called quantitative easing.