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Federal Reserve

Gold given glimmer of hope as jobs data dim Fed rate outlook

NEW YORK - Gold investors are finding some glimmer of hope in the dimming outlook for the U.S. jobs market. Bullion gained for the first time in six sessions as U.S. payrolls rose less than expected in September and wages stagnated, signaling that the global slowdown and financial-market turmoil is rippling through the U.S. economy. The government figures on Friday weaken the case for the Federal Reserve to raise U.S. interest rates this year for the first time since 2006. Gold futures posted five straight quarterly declines, the longest slump since 1997, as the outlook for tighter monetary policy prompted investors to favor assets with better yield prospects. The employment data...