Gold makes slight increase as US employment data disappoints

Discussion in 'Metals' started by Profiforex_Victory, Sep 5, 2016.

  1. Profiforex_Victory

    Profiforex_Victory Новичок

    Gold prices didn't really move much today as there was not heavy trading. US investors are observing the US Labor Day holiday.

    Gold rGold for December delivery on the Comex division of the New York Mercantile Exchange barely went up by $1.15. This amounts to a very slight increase of 0.09%. This small increase brings the precious metal to trade at $1,329.25 for one ounce.

    Last week Friday, gold had impressively risen to a one-week peak at $1,334.00. The increase in gold comes as discouraging U.S. employment data had reduced the chances that the Federal Reserve would still hike interest rates at its policy meeting which will be happening later on this September.

    According to data for the month of August, the U.S. economy had made an addition of 151,000 jobs, this is quite discouraging considering that this same data had showed US added 275,000 positions for the month of July.


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