Gold moves higher following weak U.S. jobs report

Gold prices rose about $10 an ounce to $2,760 following a weak U.S. jobs report Friday morning that reported a nonfarm payroll increase of 12,000 for October on a Dow Jones estimate of 100,000.

CNBC reported the jobs gain was the smallest since December 2020.

Unemployment remained unchanged at 4.1%.

The Bureau of Labor and Statistics said in its report that the Boeing strike resulted in 44,000 jobs in the manufacturing sector being lost. The report also mentioned hurricanes Helene and Milton, but said it would be hard to quantify the net effect of the storms on the jobs report.

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