A report showing lower-than-expected U.S. job growth during October bolstered investor optimism that the Federal Reserve would maintain its economic stimulus efforts, pushing gold up in Wednesday trading.

According to Automatic Data Processing (ADP), private payrolls rose by just 130,000 this month — well below the 150,000 expected and the weakest hiring since April. ADP also lowered September numbers from 166,000 to 145,000.

Gold futures for December delivery rose 0.3% to $1,349.30 per ounce on Wednesday, according to CME Group. Gold traded as high as $1,359.60 and as low as $1,338.30. Bullion closed in London at $1,345, according to BullionVault.

Silver futures for December climbed 2.2% to $22.98 per ounce. Wednesday’s high for silver was $23.10, while the low was $22.39.

Metal funds were mixed in Wednesday trading.

• The SPDR Gold Shares (GLD) slipped 0.1%.
• The iShares Gold Trust (IAU) declined 0.1%.
• The iShares Silver Trust (SLV) gained 0.8%.

Mining ETFs advanced during the day.

• The Market Vectors Gold Miners ETF (GDX) rose 1.7%.
• The Market Vectors Junior Gold Miners ETF (GDXJ) added 1.1%.
• The Global X Silver Miners ETF (SIL) moved up 0.5%.

Gold stocks improved on Wednesday.

• Agnico-Eagle Mines (AEM) increased 0.8%.
• Barrick Gold (ABX) climbed 3.7%.
• Eldorado Gold (EGO) gained 3.1%.
• Goldcorp (GG) inched up 0.3%.
• Kinross Gold (KGC) advanced 3.7%.
• Newmont Mining (NEM) added 1.3%.
• NovaGold Resources (NG) moved up 0.9%.
• Yamana Gold (AUY) surged 4.8%.

Silver mining shares gained during the day.

• Coeur d’Alene Mines (CDE) increased 1.1%.
• Hecla Mining (HL) added 1.2%.
• Pan American Silver (PAAS) rose 2.2%.
• Silver Wheaton (SLW) improved 1.5%.
• Silver Standard Resources (SSRI) edged up 0.3%.

As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault contributed to this report.