Gold is jumping over $1,270 per ounce

Gold jumped to $1,270 as The dollar fell for a second day as government reports showed the U.S. economy remains sluggish, backing speculation the Federal Reserve will hold interest rates at historically low levels and Jobless claims climbed by 4,000 in the week ended June 7, a Labor Department report showed today in Washington.

The forecast was a 310,000. U.S. retail sales rose 0.3 percent last month followed a revised 0.5 percent gain in April that was much larger than previously estimated, Commerce Department figures showed today in Washington.

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