Gold futures rallied to 3-week highs on Friday as the dollar failed to strengthen on a robust U.S. jobs report.
The U.S. economy added 211,000 new jobs in November and the nation’s unemployment rate held at 5%.
That cements expectations of an interest rate from the Federal Reserve, but that move has apparently been priced in already.
Also this week, stimulus measures from the European Central Bank fell short of expectations, boosting gold’s safe haven appeal.
Gold for February settled at $1,084.10/oz on Comex, up $22.90, or 2.2% — its highest since November 11.
Gold has moved higher since hitting a 6-year low near $1050 a few days back.
The material has been provided by InstaForex Company – www.instaforex.com