This figure significantly exceeded consensus forecasts, as economists had anticipated job gains of around 164,000.
Adam Button, a market analyst, pointed out that the unexpectedly strong employment report is driving the U.S. dollar higher, which is consequently weighing on gold prices.
Source – KITCO NEWS
The coins are available in gold, silver and clad metals and can be purchased individually or as a set. The $5 gold coin depicts the Marine Corps Color Guard; the $1 silver coin shows the flag raising at Iwo Jima; and the half-dollar clad coin features two Marines, one wearing the continental uniform of 1775 with a musket, and the other in modern-day camouflage uniform holding an M4 service rifle.
Source – Stars and Stripes
Spot gold gained 1% to $4,532.72 per ounce. Prices hit their lowest in more than seven weeks earlier in the session. U.S. gold futures for June delivery rose 0.5% higher to $4,535.30.
“Any type of resolution to the war or opening of the Strait of Hormuz would be a positive for the gold market in so much as the expectation would be that interest rates would decline, and hence that would be opportunistic or helpful to the gold market,” said David Meger, director of metals trading at High Ridge Futures.
Citi said it was staying cautious near-term on gold with a zero to three-month point-price target of $4,300/oz.
Source – CNBC
Spot gold fell 0.1% to $2,916.75 an ounce as of 11:55 a.m. ET (1655 GMT), after rising in the last three sessions. U.S. gold futures were flat at $2,925.
“We are just seeing some mild profit-taking pressure from recent gains, the underlying fundamentals are still bullish… Another thing that’s putting some mild pressure on the gold market is a rise in bond yields,” said Jim Wyckoff, senior market analyst at Kitco Metals.
The benchmark 10-year U.S. Treasury yield hit a more than one-week high, reducing the appeal of non-yielding gold.
Spot silver dipped 0.2% to $32.70 an ounce, palladium was steady at $942.25 and platinum was down 0.3% at $966.63.
Source – Reuters
Source – MSN
“We believe that he’s using (auto tariffs) as a trade negotiation. The markets are jittery because nobody really knows what’s going to happen and what will come out in future,” Nicolas Lin, chairman and interim CEO of Aether Holdings.
European stocks fell, with weakness in shares of Europe’s top carmakers such as Volkswagen down nearly 2%, while BMW lost almost 3% and Mercedes-Benz slid more than 4%.
The dollar index, which measures the greenback against a basket of currencies, fell 0.2% to 104.43, with the euro up 0.24% at $1.0777.
The Mexican peso weakened 0.82% versus the dollar at 20.288 while the Canadian dollar weakened 0.39% versus the greenback to C$1.43 per dollar as both countries are expected to be heavily impacted by the tariffs.
Source – Reuters
A collapse at a copper mine in Chile killed one worker and left five trapped underground, authorities said on Friday, forcing Chile’s state mining company to suspend operations in the affected area of the world’s largest underground copper deposit.
Nine other mine workers suffered injuries, said Chile’s National Copper Corporation, known as Codelco, describing the incident as the result of “a seismic event.”
The U.S. Geological Survey reported a magnitude 5 earthquake in an area of central Chile where Codelco’s El Teniente mine is located, at 5:34 p.m. local time on Thursday. Authorities said they’re still investigating whether it was a naturally occurring earthquake or whether mining activity at El Teniente caused the quake.
“We are making every effort to try to rescue these five miners,” said Andrés Music, general manager of El Teniente. “The next 48 hours are crucial.”
Source – The Associated Press
Praying for these people to be rescued. -Victoria
