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Gold Adds to Post-Jobs-Data Gains To Trade Sharply Higher

Live 24 hours gold chart [Kitco Inc.]

(Kitco News) - Gold prices are trading sharply higher, near the session highs, and are poised to close at a technically bullish weekly high close in late-morning dealings Friday. A much-weaker-than-expected U.S. jobs report prompted the yellow metal to surge higher, and those initial solid gains have been extended to show gold trading over $30 higher on the day. A sharp drop in the U.S. dollar index is also aiding the precious metals bulls today. August Comex gold futures were last up $31.20 an ounce at $1,243.50.

By Jim Wyckoff, contributing to Kitco News; jwyckoff@kitco.com

 

 

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