Articles
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3 weeks ago |
americafirstreport.com | Neils Christensen
(Kitco News)—After holding initial support at $3,000 an ounce, gold’s rally continues unabated, ending the week at another record high. Gold prices are moving within striking distance of $3,100 an ounce. While momentum indicators show growing overbought conditions, analysts say the market continues to benefit from solid fundamental support. Gold is trading at $3,077.30 an ounce, up 0.68% on the day, and is set to end the week with a nearly 2% gain.
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4 weeks ago |
kitco.com | Neils Christensen
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4 weeks ago |
kitco.com | Neils Christensen
(Kitco News) - The gold market remains under pressure, trading below $3,100 an ounce, as the U.S. labor market shows continued strength with the economy creating more jobs than expected last month. U.S. nonfarm payrolls rose by 228,000 in March, the Bureau of Labor Statistics reported on Friday. This figure significantly exceeded consensus forecasts, as economists had anticipated job gains of around 137,000.
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4 weeks ago |
kitco.com | Neils Christensen
(Kitco News) - The gold market is seeing solid gains above $3,100 an ounce, but prices are off their overnight highs even as the U.S. labor market loses some momentum with the number of jobs available falling more than expected. February’s job openings, a measure of labor demand,dropped to 7.57 million compared to January’s reading of 7.76 million, according to the Labor Department's monthly Job Openings and Labor Turnover Survey (JOLTS) report.
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4 weeks ago |
kitco.com | Neils Christensen
(Kitco News) - It’s no surprise that gold is trading above $3,100 an ounce as the global economy is running on fumes. And the precious metal has room to move higher as the quality of credit declines and deficits increase, according to one fund manager.
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