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Weak NFP report boosts precious metals, hits the dollar

Oct. 22, 2013 8:59 AM ETGLD, IAU, SLV, FXA, DBS, DGL, UUP, UDN, DGP, DZZ, DGZ, USV, UBG, UGL, GLL, AGQ, ZSL, SGOL, SIVR, PHYS, AGOL, UUPT, UDNT, UGLDF, DGLDF, USLVF, DSLVF, GLDI, SLVOBy: Stephen Alpher, SA News Editor4 Comments
  • Precious metals get their tails up following the disappointing September jobs number, with gold and silver moving from slightly in the red to higher by more than 1%. After falling to almost $1,250 per ounce last week, gold is back to $1,329. GLD +1%, SLV +1.5% premarket.
  • The dollar slips across the board. UUP -0.25% premarket. Up 0.4% vs, the dollar currently, the aussie (FXA) is particularly noteworthy. It suffered a brutal bear market this spring and summer, falling from $1.06 all the way to about $0.88 amid worries about a slowdown at home and in major customer China. It's been heading higher since around Labor Day, however, as the RBA signals a pause in its monetary easing campaign and as the growth outlook for China becomes less dour.
  • Dollar ETFs: UUPT, UDN, UDNT.
  • Precious metals ETFs: GLD, IAU, SGOL, PHYS, AGOL, DGL, UBG, DGP, UGL, DZZ, GLL, DGZ, UGLD, DGLD, GLDISLV, SIVR, AGQ, DBS, USV, ZSL, USLV, DSLV, SLVO.

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