Gold jumped to a six-week high after US hiring data pointed to a gradual cooling in the labor market that bolstered expectations for lower interest rates in the coming months.

Bullion was up 1.4% to $2,389.35 an ounce as of 1:30 p.m. in New York on Friday, climbing on data from the US Bureau of Labor Statistics that showed US hiring and wage growth stepped down in June while the jobless rate edged up.