Gold futures rise up from losses following worst week in over 3 years

Discussion in 'Metals' started by Profiforex_Victory, Oct 10, 2016.

  1. Profiforex_Victory

    Profiforex_Victory Новичок

    Gold prices jumped up noticeably in North America's session today. The increase in gold prices comes as investors revived their interest in the yellow metal after the worst one-week performance of gold in almost three years.

    Gold for December delivery on the Comex division of the New York Mercantile Exchange went up by over 1%, springing to a session peak of $1,266.75 for a troy ounce. Later it dropped down to $1,262.05 consequently.

    On Friday, the precious metal had dropped down to $1,243.20. Actually, gold has not dropped down to this level since June 7, when really discouraging U.S. employment data had wounded hopes of traders of seeing interest rates hike from the Federal Reserve this year.

    According to the disappointing data, the U.S. economy only recorded an addition of 156,000 jobs for the month of September. This is well below the 167,000 jobs added in August, according to data from the US Labor Department last week Friday.


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