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    04.03.2016 17:08 Gold increases on a weaker the U.S. dollar

    Gold price rose on a weaker the U.S. dollar. The U.S. dollar fell against other currencies on the mixed U.S. labour market data. The U.S. Labor Department released the labour market data on Friday. The U.S. economy added 242,000 jobs in February, exceeding expectations for a rise of 190,000 jobs, after a gain of 172,000 jobs in January. January's figure was revised up from a rise of 151,000 jobs.

     

    The increase was driven by rises in health care and social assistance, retail trade, food services and drinking places, and private educational services.

     

    The U.S. unemployment rate remained unchanged at 4.9% in February, the lowest level since February 2008, in line with expectations.

     

    Average hourly earnings dropped 0.1% in February, missing forecasts of a 0.2% gain, after a 0.5% rise in January.

     

    April futures for gold on the COMEX today rose to 1279.90 dollars per ounce.

     


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