Treasury yields and the dollar tumbled after the print, helping send bullion higher by much as 1.3% to $2 477.68 an ounce, less than $10 shy of an all-time high at $2 483.73 reached last month.
Chris Ratcliffe/Bloomberg
Gold jumped to close in again on its latest record, after weaker-than-expected US jobs data reaffirmed expectations that the Federal Reserve will start to cut interest rates soon.
US hiring slowed by more than forecast in July and the unemployment rate rose to the highest level in nearly three years, suggesting the labor market is cooling faster than other data suggest.
Treasury yields and the dollar tumbled after the print, helping send bullion higher by much as 1.3% to $2 477.68 an ounce, less than $10 shy of an all-time high at $2 483.73 reached last month. Lower rates are typically positive for gold as it pays no interest.
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