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Gold Climbs After Jobs Data

Silver is also higher.

Gold prices were shooting higher Friday after a weaker-than-expected jobs report undermined support for the greenback.

December-delivery gold contracts were ahead by $4.90 at $681.50 an ounce, while benchmark silver contracts were up 18 cents at $13.17 an ounce in recent activity in New York.


streetTracks Gold Shares

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exchange-traded fund was adding 0.9%. The

iShares Silver Trust

(SLV) - Get iShares Silver Trust Report

was up 1.3%.

Meanwhile, the dollar was falling against the yen and euro. One dollar was recently trading for 118.95 yen, down from 119.19 late Thursday. The euro was changing hands for $1.3728, up from $1.37 previously.

Over time the price of dollar-denominated assets, like gold and silver, tend to appreciate as the value of the U.S. currency dwindles.

The ETFs that track the values of currencies were ahead also. The

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CurrencyShares Euro Trust

(FXE) - Get Invesco CurrencyShares Euro Trust Report

and the

CurrencyShares Japanese Yen Trust

(FXY) - Get Invesco Currencyshares Japanese Yen Trust Report

were both rising 0.3% recently.

In the precious metals patch, shares of

Eldorado Gold

(EGO) - Get Eldorado Gold Corporation Report

were rallying 5% after the company posted better-than-forecast profits for the June quarter. The miner said it earned 8 cents a share, while the consensus among Wall Street analysts was for 5 cents.

As for base metals, copper prices were off 4 cents at $3.54 a pound, likely on fears of a slowing economy unfavorably impacting demand.

Turning to the agricultural complex, coffee futures were up about 1% at $1.17 a pound, and wheat was better by 1% at $6.48 a bushel.