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Why the jobs report could spur the next bull market in gold

Gold was enjoying a substantial jump on Friday, after a disappointing jobs report made traders more skeptical about the prospect of the Federal Reserve raising rates in the near future.

The Bureau of Labor Services reported Friday that 160,000 jobs were created in April, missing economists' expectations and sending a signal that the American economy is not as strong as has been anticipated.

This, in turn, is reducing expectations about rate hikes from the Fed. For instance, Bank of America Merrill Lynch's economic research team no longer believes the U.S. central bank will raise its rate target in June...