Gold and silver prices rose Tuesday 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 climbed $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 increased 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 will 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. High-grade copper for December rose 3.2 cents, or 1 percent, to $3.336 a pound. December palladium rose $2.65, or 0.4 percent, to $752.90 an ounce. Platinum for January delivery rose $12.10, or 0.8 percent, to $1,450.70 an ounce.
In agricultural futures, December corn fell 5.75 cents, or 1.3 percent, to $4.38 a bushel. November soybeans fell 1 cent to $13.02 a bushel, and December wheat edged up 1 cent to $7.01 a bushel.