The gold -priced metal took advantage of the readings of the US NFP jobs report that missed expectations, surging higher in the Asian session.
Spot gold traded higher at around $ 1,786 per ounce, rising from a one -month low it reached last week at $ 1,762 per ounce.
Gold futures traded slightly higher at $ 1,787 an ounce.
The U.S. economy only added 210,000 jobs last month, down from 546,000 recorded in October. This figure is a far cry from market expectations for a 550,000 increase.
While the US dollar did not make a significant change from this slipping figure, US bond yields fell below 1.40%, indicating investors were worried the giant’s economy would weaken.
The decline provided an opportunity for gold to rise, as well as supported by uncertainty about the Omicron coronavirus variant as more countries implemented tightening of movement controls.
However, expectations of the Federal Reserve (Fed) to raise interest rates earlier slightly dampened the movement of the yellow metal.
