Gold hiked on Friday after U.S. jobs growth came in below expectations, decreasing the likelihood of an interest rate hike from the Federal Reserve this month.
U.S. non-farm payrolls increased by 151,000 in August. Consensus projections were for a rise of 180,000.
Spot gold jumped to a session high of $1,328.73 U.S. after the non-farm payrolls data, and was up 0.5% at $1,319.64 U.S. an ounce. U.S. gold was up 0.5% at $1,323.
It's significant because gold is highly sensitive to rising U.S. interest rates, which increase the opportunity cost of holding non-yielding bullion while boosting the U.S. dollar in which it is priced. U.S. gold futures added 0.7% to $1,326.80 U.S. an ounce.
As for other metals, silver popped more than 2% after the jobs data, touching a two-week high of $19.29 U.S. at one point. Platinum rose 0.8% to $1,053.20 U.S. an ounce while palladium gained $0.84 to $669.05 U.S. an ounce.
