Gold futures topped $1,100 U.S. an ounce Friday for the first time as stocks and the euro recover in volatile trading in the wake of the monthly U.S. employment report.
Soon after 10 a.m. EST, December gold was up $8.40 to $1,097.70 U.S. an ounce on the Comex division of the New York Mercantile Exchange. December silver was up 11 cents to $17.52 U.S.
December gold peaked at $1,101.90 U.S. an ounce, a fresh record for a most-active contract on Comex. Nearby but lightly traded November gold hit $1,100 exactly, a record for a spot-month contract.
Within minutes of the report, December gold extended Wednesday's record to $1,099 U.S. But then it turned lower on what a couple of analysts characterized as profit taking, with traders who previously bought at lower levels selling in order to exit positions.
Since then, however, gold has charged ahead again, in response to the jobs picture.
October non-farm payrolls fell 190,000, the Labor Department reported, when the consensus forecast was for a 175,000 decline. The unemployment rate rose to 10.2% from 9.8% in September, when the expectation was for 9.9%.
The December dollar index is down 0.170 point to 75.695.
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