Commodities
Gold Sees Safe-Haven Boost on Weaker US Jobs Data
The gold market is seeing increased demand for safe-haven assets after the U.S. labor market reported slower growth in September.
U.S. nonfarm payrolls rose by 29,000 last month, missing consensus forecasts of around 89,000 job gains.
The unemployment rate ticked higher, increasing to 4.2% from 4.1%, according to the Bureau of Labor Statistics.
Analysts had expected weaker employment numbers to boost gold prices, and they have not been disappointed with spot gold last trading at $4,223 an ounce, up 1% on the day.