Gold Surges as U.S. Jobs Report Disappoints

Gold and silver prices rise after a weaker-than-expected U.S. jobs report for October, which eases concerns about an overheating U.S. economy and supports the case for the Federal Reserve to halt interest rate hikes. The U.S. dollar weakens and U.S. Treasury yields dip in response to the report, while U.S. stock indexes continue to climb. Other economic data to be released includes the U.S. services purchasing managers index (PMI) and the ISM report on business services. Technically, gold and silver futures show bullish trends in the near term.