Gold climbed toward $1,300 U.S. an ounce on Friday after analysts said data showing U.S. jobs growth in March coming in slightly under expectations fueled the view of a more dovish Federal Reserve.
Gold for June delivery jumped $13.10, or 1%, to $1,297.70 U.S. an ounce on the Comex division of the New York Mercantile Exchange. Tracking the most-active contracts, prices traded around 0.3% higher for the week.
May silver gained 27.5 cents, 1.4%, to $20.08 U.S. an ounce, trading up 1.4% for the week.
March U.S. non-farm payrolls increased by 192,000 in March, versus expectations for gains of 200,000, while some economists had expected even higher numbers. Both January and February payrolls were revised higher, but the unemployment rate was unchanged at 6.7%, versus calls for a slight dip to 6.6%.
One expert said in a note that if gold closes above $1,300 U.S. an ounce on Friday, that will be a bullish clue and also a bullish weekly-high close.
Elsewhere in metals trading, high-grade copper for May delivery added less than a penny to nearly $3.04 U.S. a pound. Prices were down about 0.2% from the week-ago close.
July platinum edged up by 40 cents to $1,445.90 U.S. an ounce, trading around 2.7% higher on the week. June palladium shed $1.35, or 0.2%, $787.50 U.S. an ounce, with prices set to log a climb of roughly 1.9% for the week.
