Gold prices climbed over half a percent on Friday and bucked the somber trend prevailing across risky asset classes after the disappointing US nonfarm payroll data triggered safe haven demand. The yellow metal prices, which fell only 0.6 percent for the week, also got support amid speculations that the slowing recovery in world’s largest economy would compel US Federal Reserve to employ quantitative easing measures in order to spur the economy.
Gold futures for June delivery climbed $10.40 or 0.6% to settle at $1,645.20 an ounce after trading as high as $1,648 and as low as $1,626.80 an ounce on the Comex division of the New York Mercantile Exchange, whereas the spot gold prices rose $7 or 0.4% to $1,643.20 an ounce.
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