Job report in US sucks...!!Fantastic,...
posted on
Sep 06, 2013 09:16AM
"Friendly aquisition" of Prodigy Gold (Oct. 2012) / > 100k ounces in 2012
Not as good as a war or the plague or a natural disaster but I'll take it..Gold is rallying!!!!AR is taking off..
Long Live strife..and pestilance..!!!
So we are safe for this week maybe and on to the next batch of numbers next week..
Fantastic..!!
(Jeez,I'm a pig..!!)
Gold prices are higher in early U.S. trading Friday, rallying from weaker levels seen overnight and following a U.S. employment report that did not meet expectations. The pop in gold prices was accentuated as many market watchers were leaning to the side of an upside surprise in U.S. jobs growth during August. December Comex gold was last up $12.40 at $1,385.40 an ounce. Spot gold was last quoted up $18.00 at $1386.25. December Comex silver last traded up $0.53 at $23.785 an ounce.
The Labor Department reported the U.S. economy added 169,000 jobs in August, which did not meet market expectations of around a 175,000 rise. There were also significant downward revisions in non-farm payrolls growth in June and July. The overall unemployment rate fell to 7.3% in August, the lowest since December 2008, and a bit lower than forecasts it would remain steady at 7.4%. Given upbeat U.S. economic data released this week, the market place was expecting even a bit better jobs growth than the median forecast.
Many market watchers believed Friday’s jobs data would tip the Federal Reserve’s hand on when the “tapering” of U.S. monetary policy will begin. The slightly weaker-than-expected jobs data really did not tip the scales in either direction of the Fed reducing its monthly bond buying sooner or later. So now it’s on to the next batch of economic data out next week.