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Gold futures end above 1,300 dollars

English.news.cn   2014-04-05 04:29:41

CHICAGO, April 4 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange ended higher Friday, scoring a weekly gain of 0.7 percent as the much-anticipated monthly non- farm payrolls report showed the U.S. created fewer jobs than expected last month.

The most active gold contract for June delivery rose 18.9 U.S. dollars, or 1.47 percent, to settle at 1,303.5 dollars per ounce. Tracking the most-active contracts, gold prices saw the highest close since March 25.

March non-farm payrolls increased by 192,000 in March, versus expectations for gains of 200,000, while some economists had expected even higher numbers, the Labor Department said.

The weaker-than-expected job numbers will force the U.S. Federal Open Market Committee to curtail tapering of quantitative easing and extend the process before actually raising rates, which is a bullish underlying factor for the precious metals, according to market analysts.

A day earlier, gold futures gave up much of its recent gains as the dollar moved up following the European Central Bank's decision to leave interest rates unchanged. Silver for May delivery rose 14. 1 cents, or 0.71 percent, to close at 19.946 dollars per ounce.

Editor: Mu Xuequan
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