5:36 am PST. Horrible jobs report causes gold to spike to 1273. The Dow futures are still holding their low.
“Nonfarm payrolls grew by just 98,000 in March though the unemployment rate fell to 4.5 percent, according to a closely watched report Friday from the Bureau of Labor Statistics.
Payrolls had been expected to increase by 180,000 in March, according to economists surveyed by Reuters.
The numbers come amid what had been a strong year for jobs, with both January and February easily topping Wall Street’s expectations. A report earlier in the week from ADP showed that private payrolls expanded by 263,000, further spiking hopes that the momentum would continue.”- cnbc.com