Gold jumps more than 2 pct after U.S. payrolls data

Gold surged more than 2 percent and was on track for its biggest one-day jump in more than a month on Friday after U.S. payrolls data fell well short of forecasts, boosting expectations that the Federal Reserve will stand pat on interest rates.

The U.S. economy created the fewest jobs in more than five years in May, a Labor Department report showed on Friday, hurt by a strike by Verizon workers and a fall in goods-producing employment.

That could make it difficult for the Fed to raise interest rates further. The data sparked a rebound in gold, which had slid to a 3-1/2 month low of $1,199.60 on Monday on growing expectations for a hike.

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