Gold prices rebounded from more than three-month lows on Thursday after data showing that the U.S. economy added fewer jobs than expected last month tempered expectations for higher interest rates.
Gold futures for August delivery were last at $1,164.7 a troy ounce, off the day’s lows of $1,158.2.
The dollar turned broadly lower after the Labor Department reported that the U.S. economy added 223,000 jobs in June, compared to expectations for jobs growth of 230,000.
U.S. stocks rose on Thursday after data showed job growth slowed in June, indicating that the U.S. Federal Reserve might hold off on raising interest rates in September.
Eight of the 10 major S&P 500 sectors rose, with the utilities index <.SPLRCU> leading the gains with a 1.5 percent rise.
Nonfarm payrolls increased 223,000 last month, below the 230,000 that economists polled by Reuters had expected.
The dollar fell against a basket of other major currencies on Thursday, after data showed that he U.S. economy added fewer jobs than expected last month data, dampening expectations for a rate hike.
The Labor Department reported that the economy added 223,000 jobs in June, compared to expectations for jobs growth of 230,000. May’s figure was revised down to 254,000 from 262,000 previously.
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