Gold is spiking.
After the disappointing September jobs report, markets were seeing a decidedly “risk off” trade, with stocks getting crushed, bonds rallying, and gold spiking.
After the report’s release, gold futures were up nearly 2% in New York to trade at around $1,135 an ounce.
Meanwhile Dow futures were down more than 200 points, and the US 10-year Treasury note was back below 2% for the first time since August.
In September, the US economy added 142,000 jobs, fewer than expected, while wages disappointed and the labor-force participation rate fell to a fresh 38-year low.