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Gold was climbing
Gold was climbing in New York for the second time in three days on speculation that moves by the world’s central banks to bolster economic growth will spur demand for the metal as a hedge against inflation.
Gold advanced 5.1 percent last month as the Federal Reserve announced a third round of quantitative easing, the European Central Bank pledged to buy more debt, and the Bank of Japan added to an asset-purchase fund to boost growth. The U.S. Labor Department will release the latest employment figures on Oct. 5.
Gold futures for December delivery rose 0.2 percent to $1,778.50 an ounce at 10:01 a.m. on the Comex in New York. Futures reached $1,794.40 on Oct. 1, the highest since Nov. 14.
The U.S. jobless rate rose to 8.2 percent last month from 8.1 percent in August, according to the median forecast of economists surveyed by Bloomberg News before the Labor Department report.
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