Gold Posts Biggest Weekly Gain in a Month on U.S. Payrolls Data
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Gold futures rose for a third straight day, capping the biggest weekly advance in a month after U.S. payrolls increased less than economists expected.
The 113,000 gain in employment followed a revised 75,000 increase the prior month, Labor Department figures showed. The median forecast of economists in a Bloomberg survey called for a 180,000 advance. The jobless rate “remains elevated,” according to the Federal Reserve, which last month said it will trim monthly bond buying by $10 billion to $65 billion.