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Gold prices finished higher for a fifth time in six sessions on Friday as a disappointing jobs report drove the dollar lower.
February gold rose to $1,138.90 per ounce, up $5.20. The metal reached as high as $1,140.
For the week, gold finished up nearly $41 per ounce or almost 4%.
The U.S. Labor Department revealed that non-farm payrolls declined by 85,000 in December.
Economists had generally expected a more modest decline for the month, with some predicting that December would see some job growth.
Results for November were revised higher, with statistics now showing a gain for the month of 4,000, compared to the decline of 11,000 jobs originally reported.
The U.S. Commerce Department revealed Friday that wholesale inventories jumped 1.5 percent in November. This followed a revised 0.6 percent rise in the previous month.
Richmond Federal Reserve President Jeffrey Lacker said Friday that the current recession has ended and that a turnaround in stock prices and the stabilization of house prices should lead to a rise in consumer spending.
Eric Rosengren, president of the Federal Reserve Bank of Boston, said Friday that while overall conditions in the nation's financial markets have improved, real economic recovery has proceeded "more slowly."
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