Spot prices of precious metals jumped on Friday after the latest United States nonfarm employment report showed slightly lower-than-expected wage growth, seemingly leading traders to believe that inflation could soon subside to acceptable levels and make the Federal Reserve cut interest rates.
Gold increased by 0.69% to $1,833.06 per ounce at 11:59 am ET. Silver gained 2.84% and reached $21.56 per ounce moments after jumping by as much as 3%.
Platinum advanced 2.38% to $884.86 per ounce at 12 pm ET. Palladium climbed up 1.12% to $1,145.25 per ounce concurrently.
