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Gold Jumps as Jobs Deal `Devastating Blow' to Fed Rates Outlook

  • U.S. employers add fewest jobs in seven months, data show
  • Odds of Fed interest-rate move in June dwindle after report
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Gold Prices Are Still Solid

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Gold had the biggest gain in a week after U.S. employers added the fewest workers in seven months, weakening the case for the Federal Reserve to raise interest rates.

The 160,000 gain in payrolls in April followed a revised 208,000 rise in March, a Labor Department report showed Friday. The median forecast in a Bloomberg survey called for a 200,000 April advance. The jobless rate, projected to ease, stayed at 5 percent.