Gold futures on the COMEX division of the New York Mercantile Exchange rose on Friday as investors reacted to the March jobs report.
The most active gold contract for June delivery rose 8 U.S. dollars, or 0.49 percent, to close at 1645.7 dollars per ounce.
Investors’ focus on Friday was a report released by the U.S. Department of Labor showing nonfarm payrolls fell by 701,000 during March, a figure that was much worse than expected. Market analysts note that this boosted safe haven demand and thus gave support to gold.
Gold also gained support as the Dow Jones Industrial Average fell by 484.55 points, or 2.26 percent, to 20,928.89 as of 1755 GMT.
Meanwhile, the U.S. Dollar Index rose by 0.54, or 0.54 percent, to 100.72 as of 1750 GMT.
Silver for May delivery fell 16 cents, or 1.09 percent, to close at 14.494 dollars per ounce. Platinum for July delivery fell 11.9 dollars, or 1.63 percent, to close at 718.1 dollars per ounce. Enditem