Gold Prices Surge on Mixed Non-Farm Payrolls Reading, February 11

Gold futures rise as traders react to a mixed February Non-Farm Payrolls report released February 11. The U.S. labor department reported 200,000 new payrolls, below the 225,000 median forecast, but the unemployment rate held at 3.7%, near a 50-year low. The softer-than-expected jobs report increased demand for safe-haven assets, pushing gold to $2,340.50 per ounce, a 2.3% gain on the day. The dollar fell 0.8% against a basket of major currencies, reflecting risk-off sentiment and expectations of accommodative Federal Reserve policy.