Gold price jumps as U.S. job numbers beat expectations but unemployment rate rises in June

(Kitco News) Gold rose to daily highs after the U.S. added more jobs than expected in June but the unemployment rate ticked up.

U.S. nonfarm payrolls rose by 850,000 in June, according to the Bureau of Labor Statistics. The monthly figure came well above market consensus estimates of 700,000.

However, the U.S. unemployment rate rose to 5.9%, while markets projected to see a drop to 5.7%. The number of unemployed also remained at 9.5 million.