Stock:
Symbol Lookup
Register | Login
...
History
...
...

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 2015 the year you get RICH!

Latest Headlines

Venezuela currency blues hit U.S. blue-chip companies Venezuela currency blues hit U.S. blue-chip companies
BOSTON (Reuters) - Venezuela`s currency woes cut nearly $3 billion in profit at U.S. blue-chip companies during the second quarter and prompted Procter & Gamble Co <PG.N> to remove its ope...
Google loses bid to overturn low-cost patent licenses to MicrosoftGoogle loses bid to overturn low-cost patent licenses to Microsoft
NEW YORK (Reuters) - In a setback for Google Inc <GOOGL.O>, a U.S. appeals court ruled on Thursday that the low licensing rate Microsoft Corp <MSFT.O> pays to use some of Google`s Motoro...
GE may ship $10 billion in work overseas as U.S. trade bank languishesGE may ship $10 billion in work overseas as U.S. trade bank languishes
WASHINGTON (Reuters) - General Electric Co is taking steps to shift some U.S. manufacturing work overseas now that the U.S. Export-Import Bank will be shuttered at least until September, the industr...
Even With Recent Declines, Investors Still Love Biotech ETFsEven With Recent Declines, Investors Still Love Biotech ETFs
Biotechnology exchange traded funds still dominate the list of this year`s top-performing non-leveraged sector ETFs. In fact, each of the top six sector ETFs in terms of year-to-date gains are biotech...
Not Everyone Is Running From ChinaNot Everyone Is Running From China
China`s stock market has suffered a series of wild swings over the past few weeks after investors trading on borrowed money began to pull out. Government intervention served to stabilize prices slight...

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.