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Gold rebounds on oil, jobs data
The Saudi Gazette Published in The Saudi Gazette on 10 - 03 - 2012

Gold rebounded in heavy trade on Friday, reversing early sharp losses as the metal took heart from gains in crude oil and US equities' after an encouraging US nonfarm payrolls report.
Spot gold gained 0.5 percent on the day to $1,708.29 an ounce by 11:34 a.m. EST (1634 GMT), having fallen to a session low of 41,677.34.
Gold is set for a flat finish for the week, as its gains on Friday have largely erased losses from earlier this week. US gold futures for April delivery were up $10.40 at $1,709.10 an ounce.
Spot silver rose 0.9 percent to $34.14 an ounce Prices at 11:34 a.m. EST (1634 GMT).
Meanwhile, benchmark oil for April delivery was up $1.42 to $108 per barrel in late morning trading on the New York Mercantile Exchange.
In London, Brent crude was up 38 cents at $125.68 a barrel on the ICE Futures exchange.

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