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Gold and Silver Rise Ahead of Jobs Report

Gold and silver are finishing higher Thursday, as investors await the government's monthly unemployment report on Friday.

Gold for August delivery rose $17.30 to settle at $14.15.80 an ounce. July silver gained 23.5 cents to $22.71 an ounce.

Investors found encouraging signs in the weekly jobs report that came out Thursday. The number of Americans seeking unemployment benefits fell by 11,000 last week to a seasonally adjusted 346,000, a level consistent with steady job growth. The monthly report is expected to show the unemployment rate remained at a four-year low of 7.5 percent.

Grains were mixed, with wheat and soybeans lower. Corn was higher.

Crude oil futures ended at $94.76, up $1.02. Natural gas lost 17 cents to settle at $3.83 per thousand cubic feet.

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  • Report this Comment On June 11, 2013, at 7:56 AM, CharlesMcLain wrote:

    One of the most crucial economic data for the gold market is the government’s monthly employment report. Trades are anticipated to closely scrutinize the report to assess the strength of the U.S. economy. The U.S. non-farm private employment data reported jobs below the expected number. The U.S. non-farm private employment data reported jobs below the expected number which spurred the gold prices, plus other factors that are affecting the gold price movement.

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