Gold ends above $1,300, scores gain for the week
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Gold ends above $1,300, scores gain for the week
U.S. payrolls fall into ‘dove camp’, say analysts
SAN FRANCISCO (MarketWatch) — Gold futures closed back above $1,300 an ounce on Friday to score a gain for the week after analysts said data showing U.S. jobs growth in March coming in slightly under expectations fueled the view of a more dovish Federal Reserve.
Prices for the yellow metal also got a boost from “continued consolidation in the stock market” and it saw “a little extra juice due to the fact that it was a bit oversold after a rough couple weeks,” said Adam Koos, president and portfolio manager at Libertas Wealth Management Group. Gold prices logged losses in each of the previous two weeks.
Gold for June delivery (CNS:GCM4) jumped $18.90, or 1.5%, to settle at $1,303.50 an ounce on the Comex division of the New York Mercantile Exchange. Tracking the most-active contracts, prices saw the highest close since March 25 and climbed roughly 0.7% for the week. http://www.marketwatch.com/story/gold-inches-...2014-04-04
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