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Updated 21:10 08/05/21

Gold surges on poor U.S. jobs data

By Adam Pike, News Editor

14 May 2015

The gold price has rose to £777 per ounce following worse than expected U.S. employment data.

The U.S. Department for Labour announced the number of people registering for unemployment benefits fell by only 1,000 in April. In recent weeks the dollar has lost ground against the pound making gold cheaper in sterling.

Gold has also been boosted by concern Greece is running out of money and increased political tension in the Middle East.

The silver price has surged over 7% in the last three trading days, its biggest rise since August 2013. Both metals have broken above their 200 day moving average.

Gold is currently trading at £774.89 per ounce, silver £11.03 per ounce, platinum £735.73 per ounce and palladium £494.75 per ounce.

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