Gold settles at a 3 1/2-month high after ADP report reveals weaker hiring

From marketwatch.com

Gold climbed on Wednesday with the prospect of an interest-rate reduction by the Federal Reserve, amid signs of economic weakness in the U.S., lifting the metal’s price to its highest finish in 3½ months. Futures prices touched highs near $1,349 an ounce after a report early Wednesday on private-sector employment for May from payroll processor ADP said employers hired 27,000 people in the month — marking the lowest growth since March of 2010. “The ADP data was a huge disappointment for the dollar bulls. Usually this number sets the tone for the biggest economic number, the U.S. [nonfarm payrolls due for ... (full story)