Gold, metals enjoy mini rally as stocks sell off

Gold prices bounced higher Thursday ahead of a key employment report that is expected to set the tone for the battered precious metal.

The yellow metal gained ground as U.S. stocks registered sharp falls. Stocks tumbled as shares of Walt Disney Co. DIS, -1.79% and Viacom Inc. VIA, -13.35% led a media selloff amid fears of an exodus of pay-TV subscribers.

The selling delivered a fillip to gold futures for December delivery GCZ5, -0.21% which were up as high as $7.70, or 0.7%, to 1,093.30 an ounce, until ultimately settling up $4.50, or 0.4%, at $1,090.10 an ounce.

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