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Gold rose but weaker than expected: December report

ByVictoria

Spot gold rose 0.5% to $2,663.79 per ounce, as of 9:55 a.m. ET (1455 GMT) and hit its highest since Dec. 13. U.S. gold futures gained 0.5% to $2,679.70.

Weaker private payrolls “is contributing to gold’s move, because ultimately, weaker employment numbers imply that the economy has been weaker than many had expected,” said Bart Melek, head of commodity strategies at TD Securities.

“The bigger factor will be U.S. nonfarm payrolls on Friday, the market is expecting a change of 163 (thousand); anything significantly above that will be negative for gold,” Melek said.

Source – Reuters

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    “Bitcoin disrupted global finance just a decade ago, now, silver is emerging as the next keystone of global transformation—poised to reshape industries, currencies and geopolitics.”

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    More Info on Author

    Collin Plume author of Silver is the New Oil

    Article on Collin Plume CSQ