Publish date:

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.

The

streetTracks Gold Shares

(GLD) - Get SPDR Gold Trust Report

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

TheStreet Recommends

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.