(MENAFN- ProactiveInvestors) Gold held onto the majority of its surge on Friday as investors mulled over the implications of the very weak non-farm payroll number for September
Spot gold eased US$2 to US$1136 having surged more than US$30 at the end the week after the jobs gain of 142000 was greeted with widespread disappointment while the previous month’s figure was revised lower.
The US dollar one of the traditional counters to the gold price slid sharply as economists suggested a rise in US interest rates may now be as far away as next summer.
Silver was another beneficiary of the weak non-farm payrolls regaining the US$15 an ounce level and making further gains today.
An hour into trading in the US silver had added another half a dollar to US$15.66.
Even platinum made some progress after it was largely left out of the rises on Friday.
The metal has been weak in the wake of the VW diesel emissions scandal exhaust catalysts are big users of platinum but it gained US$12 to US$920 today.
Compared to its related metal palladium used in petrol cars platinum is at its cheapest since February 2002.
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