Gold Rides Higher Thanks to Weaker Dollar

Last week's unfortunate U.S. jobs report has had a predictably negative impact on the U.S. dollar, giving gold a significant boost. The precious metal gained $1.25 from last session, rising to $1,320.25 per ounce.

The U.S. jobs report, released on Friday, showed that non-farm payrolls fell significantly short of market expectations of 190,000 at only 148,000. Unemployment remains at 4.1 percent, though average hourly wages are up 0.3 percent from last month. The U.S. dollar made slight recovery in today's session, however, inching up 0.03 percent higher to 92.05.

Spot silver rose by $0.030 today to $17.23 an ounce. Platinum is up to $973, an increase of $4 per ounce. Palladium jumped by $9 an ounce to $1100. Prices on Brent spot crude oil is up $0.03 to $67.73 per barrel.