Gold prices are higher and have hit daily highs in early U.S. trading Friday, following a very downbeat U.S. jobs report. A weaker U.S. dollar index and lower U.S. stock indexes early today are also bullish daily elements for the precious metals markets. April gold futures were last up $10.20 an ounce at $1,296.50. May Comex silver was last up $0.115 at $15.155 an ounce.
The just-released U.S. March jobs report from the Labor Department showed a rise in non-farm payrolls of only 20,000. The number was forecast to come in at up 180,000. The ADP national employment report for February, released on Wednesday, showed a rise of 183,000. Many are already speculating the low March jobs reading will be revised significantly upward. Also, the “internals” of this month’s jobs report are not that bad.