LONDON (SHARECAST) - Crude oil futures fell almost 3% on Friday as widely watched US jobs data came in worse than expected. Fears about fuel demand resurfaced as October non-farm payrolls data showed the US unemployment rate rose to 10.2% from 9.8% in September. The number of jobs lost in October was 190,000 compared with forecasts of 175,000 job losses. Crude for December delivery settled $2.19 lower at $77.43 a barrel on the New York Mercantile Exchange. Oil traders have been keeping a close eye on economic indicators for signs about the rate of economic recovery and the effect that has on petroleum demand. Friday's jobs figures had plenty of traders heading for the door. Gold futures finished at a record Friday as the jobs reports sparked forecasts that interest rates will stay near zero well into next year. Gold for December delivery pushed through to $1,095.70 an ounce, up $6.40 after earlier hitting an all-time high of $1,101.90 an ounce. The weaker dollar also buoyed demand for the yellow metal. Friday’s disappointing jobs figures poured cold water on risk appetite while throughout the week prices have ballooned on rumours that central banks may buy gold to replace the dollar as its reserve currency. Silver for December delivery fell 4 cents to $17.38 an ounce while copper for December was unchanged at $2.95.

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