MW: Gold nears $1,780 after jobs jump; oil trims loss
By Laura Mandaro
SAN FRANCISCO (MarketWatch) -- Gold futures Friday swiftly added to losses before moderating a bit after the U.S. Labor Department said the economy added 114,000 jobs last month, better than forecast, while the jobless rate fell to 7.8%. Gold for December delivery GCZ2 -1.16% had fallen as low as $1,780.10 after the report before recovering to $1,788.20, down $8.30. It had traded over $1,791 before the report. Gold has been gaining this week after comments and reports from central banks signaled policy makers are leaning towards adding even more money to the global financial system, heightening the perceived value of hard assets. Oil for November delivery CLX2 -0.65% was down 36 cents at $91.35 a barrel vs. $90.59 before the report.
