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Gold Posts Biggest Weekly Gain Since June as Wages Trim Fed Bets

  • Wages climb at the weakest pace since August, U.S. data show
  • Payrolls jump by 227,000 in January, topping estimates
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Gold futures rose, capping the biggest weekly gain in more than seven months, as slower U.S. wage growth eased concern that rising inflation will spur the Federal Reserve to move more aggressively in boosting interest rates.

The jobless rate rose to 4.8 percent and average hourly earnings grew 2.5 percent from January 2016, the weakest since August, a Labor Department report showed Friday in Washington. January’s 227,000 increase in payrolls followed a 157,000 rise in December. The median forecast in a Bloomberg survey of economists called for a 180,000 advance.