Gold futures edged higher Friday as uncertainty surrounding the U.K.’s exit from the European Union and the upcoming U.S. election raised the metal’s attractiveness as a haven.
U.S. data showed a sizable October gain in new jobs, further lifting the prospects for a Federal Reserve interest-rate increase in December—a prospect that’s weighed on gold in the past.
“Gold investors appear to have shrugged off the solid jobs and wage growth data,” said Rob Haworth, senior investment strategist at the Private Client Reserve at U.S. Bank.
