Gold Price books best daily gain in 11 weeks after jobs report
New York (Jun 3) Gold futures, and the broader metals complex, rallied Friday after May employment data showed the U.S. economy created the fewest number of jobs in nearly six years. The yellow metal benefited from weakness in the dollar, which tumbled sharply on mounting prospects of a rate-hike delay by the Federal Reserve. Weakness in the dollar can lift the allure of precious metals priced in the currency. Concerns about shakiness in the U.S. labor market also boosted the haven appeal of gold. August gold gained $30.30, or 2.5%, to settle at $1,242.90 an ounce, marking its best one-day gain since March 17, according to FactSet data.