Strong gains for bullions

Weak job report and weak dollar impart the dazzle Bullion prices at Comex rose sharply on Friday, 07 September 2012 settling at their best in more than six months, after a negative jobs report at Wall Street was thought to hasten additional U.S. economic stimulus measures. The low dollar also aided in prices moving up. Gold for December delivery advanced $34.90, or 2.1%, to settle at $1,740.50 an ounce on the Comex division on Friday. That was gold's highest settlement since late February. On the week, gold rose 3.1%, its third consecutive week of gains December silver gained $1.02, or 3.1%, to $33.69 an ounce on Friday. That was silver's highest finish since March. Silver rose 7.2% in the five-day period. Further impulse for silver, metals widely used in industrial sectors, came from the announcement Friday that China had approved another batch of multi-million dollar infrastructure projects. Latest data from the Labor Department at Wall Street showed that U.S. nonfarm payrolls rose by 96,000 in August, 2012. This came in well below market estimates around 125,000 and compared to July's revised growth of 141,000 jobs. The unemployment rate fell to 8.1%, down from 8.3% in July, as more people checked out of the workforce. The dollar index, whch weighs the strength of the dollar against a basket of six other currencies, fell by almost 0.8% on Friday.