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Gold, Silver Higher as US Hiring Slows Down

Gold, Silver Higher as US Hiring Slows Down

(AP) Gold, silver higher as US hiring slows down
By The Associated Press
NEW YORK
Gold and silver prices are higher after the U.S. government reported a slowdown in hiring last month, raising expectations that more stimulus from the Federal Reserve will keep the dollar weak and interest rates low.

Gold for December delivery rose $26.80, or 2 percent, to $1,342.60 an ounce Tuesday. Gold is the highest it’s been in a month. Silver for delivery in the same month rose 51.2 cents, or 2.3 percent, to $22.79 an ounce.

The Labor Department reported that U.S. employers added fewer jobs in September than analysts expected. Investors anticipated that would mean more bond-buying from the Fed, which could keep U.S. interest rates low and weaken the dollar, both bullish for gold.

Other metals also rose.

Energy and crop prices were mixed.

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