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 2014 the year you get RICH!

Latest Headlines

China set to replace U.S. as Volvo's biggest market this yearChina set to replace U.S. as Volvo's biggest market this year
BEIJING (Reuters) - China is set to surpass the United States to become Volvo Car Group`s biggest market in 2014 with sales of at least 80,000 cars in the world`s largest auto market. Its car sales ...
Social Security to resume benefits statement mailingsSocial Security to resume benefits statement mailings
CHICAGO (Reuters) - Paper Social Security benefits statements, which used to be mailed out every year and then fell victim to budget cuts, are going to make a partial comeback. Starting this Septe...
SEC weighs requiring brokers to identify where trades made: BloombergSEC weighs requiring brokers to identify where trades made: Bloomberg
(Reuters) - The U.S. Securities and Exchange Commission is weighing a proposal that would require brokers to tell investors exactly where their stock trades are executed, Bloomberg reported on Saturda...
VW has agreed budget car concept, design: managerVW has agreed budget car concept, design: manager
BEIJING (Reuters) - Volkswagen <VOWG_p.DE> has agreed the basic concept and design of a budget car for emerging markets, a VW manager told Reuters, nearing the project`s completion after a long ...
Fiat Chrysler strikes deal to produce Jeeps in ChinaFiat Chrysler strikes deal to produce Jeeps in China
MILAN (Reuters) - Fiat Chrysler <FIA.MI> has reached an agreement to start producing Jeep vehicles in China with partner Guangzhou Automobile Group Co <601238.SS>, the companies said on Sa...

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.