Gold Price Soars to Post-Jobs-Data Gains To Trade Sharply Higher

New York (Jun 3)  Gold prices are trading sharply higher, near the session highs, and are poised to close at a technically bullish weekly high close in late-morning dealings Friday. A much-weaker-than-expected U.S. jobs report prompted the yellow metal to surge higher, and those initial solid gains have been extended to show gold trading over $30 higher on the day. A sharp drop in the U.S. dollar index is also aiding the precious metals bulls today. August Comex gold futures were last up $31.20 an ounce at $1,243.50.

Spot silver surges more than 2% to $16.41, while platinim pops $21 to $980 and palladium soars $21 to $980.

Source; KitcoNews