Crude Oil
West Texas Intermediate oil futures ended Friday's session higher, after data showed that the unemployment rate in the U.S. fell to a six-year low last month. Crude oil for delivery in December tacked on 74 cents, or 0.95%, on Friday to end the week at $78.65 a barrel. WTI prices received an additional boost after forecasts pointed to unseasonably cold temperatures in the U.S. Midwest. Milder weather patterns across the central and eastern U.S. will soon give way to more winter-like weather in the coming days, which should drive demand for heating oil, a crude derivative.
Gold
Gold spiked more than 2% on Friday to bounce off the lowest level in more than four years as investors returned to the market following the release of weaker than expected U.S. nonfarm payrolls data for October. Gold rallied $27.20, or 2.38%, to settle at $1,169.80 a troy ounce by close of trade on Friday. In a report, the Department of Labor said that the U.S. economy added 214,000 jobs last month, less than the expected increase of 231,000. The report also showed that the U.S. unemployment rate ticked down to 5.8% last month from 5.9%.
