Gold futures settled higher on Thursday after U.S non-farm payrolls data came in weaker than expected, eased bets on Fed rate hikes this year. A US Labour Department report showed the economy added 57,000 jobs last month, compared with street estimates for an increase of 110,000. The unemployment rate stood at 4.2%. Moreover, weakness in the US dollar also makes dollar-denominated commodities cheaper for holders of other currencies.
Gold futures for August delivery rose by $43.30 to 1.06% to settle at $4125.70 an ounce on the Comex division of the New York Mercantile. Spot gold up by $53.95 or 1.31% to $4 4,176.3000 an ounce.
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