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Commodities: Gold rises

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Date: Friday 04 Apr 2008

LONDON (ShareCast) - Gold prices rose on Thursday as investors looked towards Friday’s US jobs report to find clues about whether the Federal reserve will cut interest rates or not.

Expectations are that the report will show jobs have been lost for the third straight month and could sway the Federal Reserve’s decision on interest rates.

Gold price rose $9.40 to $909.60 an ounce.

Platinum price surged ahead after South Africa's state power company Eskom said the power shortages in the country may last many years unless there was a drop in demand.

Oil price slipped $1 to $103.85. On Thursday, the US Energy Information Administration’s weekly report said US crude inventories rose 7.4m barrels to 319.2m barrels in the week ended 28 March. Most analysts had predicted a rise of 2.8m barrels.