Gold jumped the most in almost four weeks after a report showed that U.S. employment unexpectedly stagnated in August, lifting demand for haven assets, Bloomberg says.
The unemployment rate remained at 9.1 percent and payrolls were unchanged last month, the weakest reading since September 2010. Analysts were expecting payrolls to grow by 65,000, a Bloomberg News survey showed. Gold has more than doubled since the end of 2008, touching a record $1,917.90 an ounce last month, as governments worldwide struggled with debt crises and as record-low U.S. borrowing costs boosted bullion’s appeal as an inflation hedge...
Read more at http://www.bloomberg.com/news/2011-09-01/gold-may-fall-after-u-s-manufacturing-unexpectedly-expands.html
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