Stock:
Symbol Lookup
Register | Login My Watchlist | My Account | Logout
History
to View Your Portfolio

Pre Market | Dow Jones | Gold | Newsletters | Learn


Gold Prices Slip as Investors Eye Nonfarm payrolls Report; Silver Prices Also Slip

Friday, June 7, 2013 8:18 AM
Gold prices eased but remained above $1,400 an ounce level and were on course to post third straight weekly gains during Asian trading hours on Friday as cautious investors wait for the all-important, non-farm payrolls report. Not even weaker U.S dollar supported bullion prices on Friday as investors wait for the job data before taking any positions. Silver prices also edged lower in early trading on Friday. The job numbers will provide reasonably good idea over when the Federal Reserve would start winding down its economic stimulating measures or quantitative easing (QE3). In case, the labor market shows weakness then the Fed will be compelled to extend its bong purchase program, which will be gold supportive. At last check, gold futures for August delivery fell 0.31% to 1,411.20 an ounce while spot gold was almost flat at $1,413.16 an ounce Silver futures were down 0.54% to $22.59 an ounce. In a note to investors, Brian Lan, managing director GoldSilver Central, Singapore, said, “Investors are expecting the Fed to come out and say that they will continue with the monetary easing because many believe that the nonfarm payroll will not be as good as expected,” according to Reuters. According to Reuters’ poll, the Labor Department’s non-farm payrolls report is likely to show barely any improvement over the previous month’s numbers, implying that the world’s number 1 economy is still not yet out of the woods. “The housing and labor markets are not very strong yet. The Fed has to keep in mind the impact on stock markets as well,” added Lan. Meanwhile, holdings of the SPDR Gold Trust (ETF) (NYSE: GLD), world’s largest gold-backed exchange trade fund, shrank another 0.3% on Thursday to 1,007.74, showed a data provided by Reuters.  
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2016 the year you get RICH!

Latest Headlines

DoubleLine's Gundlach worrying about junk bonds, not recessionDoubleLine's Gundlach worrying about junk bonds, not recession
NEW YORK (Reuters) - Jeffrey Gundlach, the chief executive of DoubleLine Capital, on Thursday said he is worried that junk bond investors could recover exceptionally low amounts of principal when thei...
Hedge fund Gávea gains in April on reversal of bet against BrazilHedge fund Gávea gains in April on reversal of bet against Brazil
SAO PAULO/NEW YORK (Reuters) - Gávea Investimentos Ltda, the hedge fund run by former Brazilian central bank President Arminio Fraga, posted higher returns in April after scrapping bets against domest...
FireEye, Cyberark Tumble After Q1 Earnings CallsFireEye, Cyberark Tumble After Q1 Earnings Calls
Cyberark Software Ltd (NASDAQ: CYBR ) and FireEye Inc (NASDAQ: FEYE ) reported their first quarter results after the market closed on Thursday. FireEye Shares of FireEye were trading down m...
News Corp's quarterly revenue falls 7.3 percent, profit hit by chargeNews Corp's quarterly revenue falls 7.3 percent, profit hit by charge
(Reuters) - News Corp , owner of the Wall Street Journal and book publisher HarperCollins, reported its fifth drop in quarterly revenue in a row as print ad sales declined and a strong dollar hit inco...
News Corp's quarterly revenue falls 7.3 percent, profit hit by chargeNews Corp's quarterly revenue falls 7.3 percent, profit hit by charge
(Reuters) - News Corp, the owner of the Wall Street Journal and book publisher HarperCollins, reported its fifth drop in quarterly revenue in a row as print ad sales decline. New York-based News Cor...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.

{localized={en_US=Terry}, preferredLocale={country=US, language=en}} {localized={en_US=Scott}, preferredLocale={country=US, language=en}}

Terry Scott
CEO of StockMarketWatch

View Profile


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.

Be a Better
Trader, Today
arrow
PreMarket PRO Our New Streaming Realtime Pre-Market Product -- Click Here to Learn More