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Gold Climbs Most Since June as U.S. Jobs Trail Forecast

from Bloomberg:

Gold futures rose the most since June after U.S. employers added fewer jobs than forecast last month, reviving demand for a haven.

Trading was more than double the 100-day average, data compiled by Bloomberg show. The dollar headed for the biggest drop in three weeks against a basket of 10 currencies. Prices for gold options betting on price declines tumbled.

The jobs data boosted speculation that the Federal Reserve may hold interest rates low amid sluggish global economic growth. Before the report, gold fell to the lowest since 2010 and the dollar touched a five-year high amid expectations for improvements in the labor market. Payrolls climbed by 214,000 in October, the Labor Department said, trailing the 235,000 estimate in a Bloomberg survey.

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