West Texas Intermediate rose from an eight-month low as a worse-than-expected jobs report reduced concern that the Federal Reserve will further pare bond-buying.

Futures gained as much as 1.9 percent, trimming a second weekly decline. Payrolls increased in December at the slowest pace since January 2011 and the unemployment rate dropped as more people left the labor force. Prices also gained as China’s crude imports climbed to a record and on speculation that recent declines in prices were excessive. WTI had dropped in seven of the past eight days, tumbling 8.6 percent.

WTI for February delivery climbed 66 cents, or 0.7 percent, to $92.32 a barrel at 10:46 a.m. on the New York Mercantile Exchange. The volume of all futures traded was 39 percent above the 100-day average. Prices are down 1.7 percent this week.

Brent for February settlement slipped 8 cents to $106.31 a barrel on the London-based ICE Futures Europe exchange. Volume was 12 percent above the 100-day average. The European benchmark was at a premium of $13.99 to WTI, compared with $14.73 yesterday.

The price of gold has shown significant growth amid a weakening dollar after weak employment data in the U.S.

Recent data from the Ministry of Labor showed that job growth in the U.S. slowed sharply in December , closing the year surprisingly weak note and potentially complicating the possible actions of the Federal Reserve System in respect of bond-buying program .

According to a report in December by non-farm payrolls increased by only 74 thousand , compared with an increase of 241 thousand in the previous month , which was revised up from 203 thousand add that this was the lowest monthly increase in within three years.

In addition, the Department of Labor reported that the unemployment rate fell to 6.7 % from 7% , although this decline was largely the result of reducing the number of workforce. Economists had expected the number of people employed in December to increase by 194 thousand and the unemployment rate will remain unchanged - at around 7.0%.

Gold in 2013 lost about 30 percent of the cost , ending a 12-year " bull " rally , as concerns folding incentives led investors to transfer funds into shares .

Some analysts expect a new recession in gold prices this year. Bank of America Merrill Lynch cut its forecast average price for 2014 to $ 1,150 an ounce , citing macroeconomic uncertainty and weak investspros .

Barclays expects the average price of gold this year at $ 1,205 per ounce and test the lows of 2010.

Outflow of gold- exchange-traded products in the past year, according to fund asset manager Blackrock, totaled $ 40 billion .

Physical metal on the market on Friday revived Chinese buyers . Trading volume contracts on gold 99.99 percent purity on the Shanghai Gold Exchange rose more than 16 tons compared with 13 tons on Tuesday, while premiums rose to $ 19 per ounce to $ 17 per ounce.

Friday's volumes were the largest since Monday, when they upgraded a maximum of 8 months.

Cost February gold futures on the COMEX today rose to $ 1247.40 per ounce.

Gold $1,227.80 -1.60 -0.13%

Oil $92.28 +0.62 +0.68%