Gold Climbs Back After Weak Jobs Report

Source:

"Gold prices were trading slightly higher Monday as investors continued to let the dust settle from Friday's labor report. 'Prices have firmed a little bit and sentiment seems to be improving,' said Jeffrey Nichols, managing director of American Precious Metals Advisors and senior economic adviser to Rosland Capital."

The Street, Joe Deaux

Gold prices were trading slightly higher Monday as investors continued to let the dust settle from Friday's labor report.

Gold for August delivery was climbing $8.30 to $1,587.20/ounce at the COMEX division of the New York Mercantile Exchange. The gold price traded as high as $1,589.90 and as low as $1,576/ounce, while the spot price was up $4.40, according to Kitco's gold index.

"Prices have firmed a little bit and sentiment seems to be improving," said Jeffrey Nichols, managing director of American Precious Metals Advisors and senior economic adviser to Rosland Capital. "Last week's employment numbers continue to paint the picture of a weak economy and that realization is sinking in gradually, leaving more traders and speculators to expect some form of [Federal Reserve] easing." . . .View Full Article

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