Gold Prices Surge Despite Strong March Labor Report

Gold prices surge by $15 an ounce, despite a report that showed the U.S. economy added 192,000 jobs in March. ETF Securities U.S. research director Mike McGlone tells TheStreet's Joe Deaux that it would be misleading to think that gold's move is a reaction to the jobs report. Instead, McGlone thinks the price jumped because the yellow metal has been oversold. And since the jobs report didn't print far better than expected, McGlone says investors had reason to buy.