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Gold soars above $1130 after big miss in NFP

FXStreet (Córdoba) - Gold jumped after the release of the US Employment report that showed a negative surprise. The value of the ounce rose from 2.40% in a few minutes, climbing from $1105/oz to $1136/oz.

It was trading at $1132, at the highest level since Tuesday and showing a strong recovery after hitting on European hours at $1104.50/oz, the lowest level since September 15.

A decline of the US dollar in the market amid reduced expectations about a rate hike from the Federal Reserve during 2015, boosted the yellow metal. Wall Street futures point to a sharply negative opening.

The official employment report showed that the economy added in September 142,000 jobs, considerably below consensus of 203,000. Previous month’s numbers were revised downwardly by a combined 59,000. The unemployment rate stood at 5.1%.

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