Weak Jobs Report Pushes Gold Futures to $1,343.10 an Ounce

A weaker-than-expected jobs report released today helped boost gold prices. The employment report showed the U.S. economy added 148,000 jobs in September – much lower than the 185,000 jobs some analysts expected, MarketWatch reported.

The lower numbers gave investors the belief the Federal Reserve would not begin tapering its stimulus program. That pushed gold prices up – with futures for December hitting a high of $1,343.10 an ounce in New York, up $27.30 from the previous session.

Spot gold also hit a high after the jobs report was released. Prices increased $17.34 to $1,334.14 an ounce.