Symbol Lookup
Register | Login

Pre Market | Dow Jones | Gold | Newsletters | Learn

Are you a Dividend Trader
Learn how to make passive income from the best dividend stocks.
100% secure: your email is never shared, and you may opt out at any time.

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.  

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2015 the year you get RICH!

Latest Headlines

DoJ lawyers oppose GE unit's sale to Electrolux - sourceDoJ lawyers oppose GE unit's sale to Electrolux - source
(Reuters) - U.S. Justice Department antitrust lawyers have opposed Electrolux AB`s <ELUXb.ST> plan to buy General Electric Co`s <GE.N> household appliance business, a source familiar wit...
U.S. sues to stop Electrolux's purchase of GE's appliance businessU.S. sues to stop Electrolux's purchase of GE's appliance business
WASHINGTON (Reuters) - The United States filed a lawsuit on Wednesday aimed at stopping Electrolux AB <ELUXb.ST> from buying General Electric Co`s <GE.N> appliance business, the Justice De...
U.S. probing whether airlines collude to keep airfares highU.S. probing whether airlines collude to keep airfares high
WASHINGTON (Reuters) - The U.S. Justice Department is investigating whether U.S. airlines are working together to keep ticket prices high, spokeswoman Emily Pierce said on Wednesday. News of the pro...
U.S. on track to grow 2.2 percent in second quarter: Atlanta Fed U.S. on track to grow 2.2 percent in second quarter: Atlanta Fed
NEW YORK (Reuters) - The U.S. economy is on track to expand 2.2 percent in the second quarter as construction spending rose 0.8 percent to just over a 6-1/2 year high in May, Atlanta Federal Reserve`s...
Deloitte to pay $1 million to resolve SEC auditor independence rule chargesDeloitte to pay $1 million to resolve SEC auditor independence rule charges
WASHINGTON (Reuters) - Deloitte & Touche LLP will pay more than $1 million to settle charges that it violated auditor independence rules, after its consulting arm maintained a relationship with ...

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.

Learn the Stock Market

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