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Gold hits five-month peak as U.S. jobs data tempers rate hike views

Reuters  |  BENGALURU 

By Swati VermaBENGALURU (Reuters) - Gold hit a five-month peak on Friday as the dollar slid following weaker-than-expected U.S. jobs data, which added to expectations the U.S. Federal Reserve may go slow on interest rate hikes next year.Spot gold gained 0.7 percent to $1,245.74 per ounce at 11:45 am EST (1645 GMT), having hit $1,246.72 per ounce earlier, its highest since July 13.With a rise of nearly 2 percent this week, gold looked set to post its best gain since the week of March 23.U.S. gold futures were also 0.6 percent higher at $1,251.30 per ounce."The non-farm payroll data came out ...

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First Published: Fri, December 07 2018. 22:47 IST