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Gold Pops Higher after Very Weak U.S. Employment Report

Metals jump up this morning following a much lower than expected U.S. jobs report.

Gold prices are moderately higher in active early-morning U.S. dealings Friday. The yellow metal was immediately boosted in the aftermath of a surprisingly weak U.S. employment report, which suggests the Federal Reserve will keep its foot on the easy-money accelerator for some time to come. Short covering and bargain hunting are featured in both gold and silver markets Friday morning, following strong selling pressure seen earlier this week. Gold had been trading near steady levels just prior to the jobs report’s release. June Comex gold last traded up $11.50 at $1,563.90 an ounce. Spot gold was last quoted up $9.60 at $1,563.75. May Comex silver last traded up $0.163 at $26.92 an ounce.

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