MW: Gold rises as U.S. jobless rate rises to 25 year high
Gold futures rose Friday to above $940 an ounce as investors sought safety in the metal after data showed U.S. February unemployment rate soared to the highest in more than 25 years. Gold for April delivery rose $15.10, or 1.6%, to $942.90 an ounce on the Comex division of the New York Mercantile Exchange. Nonfarm payrolls shrank by 651,000 in February, the Labor Department reported Friday. The unemployment rate soared to 8.1%, the highest level since December 1983.
