Gold Climbs on Weaker-Than-Expected Jobs Data

01-Apr (Dow Jones) — Gold prices rose Wednesday, after disappointing U.S. employment data reanimated hopes that the Federal Reserve would delay raising interest rates.

The most actively traded contract, for June delivery, was recently up $8.60, or 0.7%, at $1,191.80 a troy ounce on the Comex division of the New York Mercantile Exchange.

Gold prices surged to $1,194 an ounce after a report showed private payrolls in the U.S. rose by 189,000 jobs in March. This was below the 225,000 new jobs economists had predicted and signaled weaker employment growth for March.

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