Gold Climbs on Haven Demand Amid U.S., Europe Economic Woes

Gold climbed from a five-week low on demand for a store of value amid economic concerns in the U.S. and Europe.

U.S. employment fell in June for the first time this year, signaling a sluggish job-market recovery. Europe risks falling back into recession as nations such as Germany and the U.K. cut budgets sooner than expected, said Pacific Investment Management Co., which runs the world’s largest bond fund.