Gold Soars After Jobs Report, Logs Weekly Gain

By Markets MarketWatch Pulse

Gold futures finished sharply higher Friday after a weaker-than-expected jobs report heightened expectations that the Federal Reserve would keep interest rates lower for longer. June gold gained $21.70, or 1.7%, to settle at $1,294 an ounce, snapping a three-session string of losses and registering a 0.3% weekly gain. Lower interest rates are bullish for assets that don't offer a yield like gold.

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