From Chris Mullen at GoldSeek.com...
Gold spiked as high as $1097.80 immediately following the release of Friday's US jobs data, quickly dropping back $11 an ounce but then rising in New York trade – and touching $1100.95 – before ending the week at a new finishing high, up 0.6% for the session.
October's Non-Farm Payrolls came in 190,000 down from Sept., a faster than forecast drop.
The BLS Net Birth/Death adjustment for new business start-ups added 86,000 payrolls to October's data. The Unemployment rate rose to a new 26-year high above 10%.
Oil fell markedly on worries over low energy demand, but the US Dollar index and Treasuries found only slight gains as the Dow, Nasdaq, and S&P held little changed after an initial sell-off, ending with minor gains.
For the week, the major US indices all rose some 3%, while the Gold Price added 5.3%.
Friday saw the Gold Price in Euros break a series of 8-month highs above €738 an ounce. Silver rose to $17.59 in early London trade, before it fell with gold early in New York, rebounding to end the day unchanged, up 6.7% on the week.
Platinum meantime lost $16.50 an ounce to $1339 on Friday, and copper remained at about $2.95.
Gold Mining and silver equities rose over 3% in the first hour of Friday's trade before they fell back off a bit midday, but they still ended with about 2% gains.
For the week, Gold Mining and silver stocks added more than 11%.
Next week's US economic highlights include Initial Jobless Claims and the Treasury budget on Thursday, and Export and Import Prices, the Trade Balance, and Michigan Sentiment on Friday.
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