Gold on the move after jobs number


Gold launches another assault on $1,300 per ounce following the roughly inline jobs number, up 1.1% to $1,299. The print seemingly will do nothing to dent FOMC momentum towards an end to QE this year and rate hikes next year.

Unemployment didn't fall as expected, but the labor force participation rate - whose steady decline has been a key point for the economy bears - popped higher by 20 basis points to 63.2%.

ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GLL, DZZ, UGLD, DGL, GLDI, DGZ, AGOL, DGLD, TBAR, UBG, GLDE, GYEN, GEUR, GGBP

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Comments (8)
  • Doug Eberhardt
    , contributor
    Comments (4579) | Send Message
     
    The talk on the street was a beat by 20k. Didn't happen. So we get the pop in gold for now.
    4 Apr 2014, 08:59 AM Reply Like
  • june1234
    , contributor
    Comments (4259) | Send Message
     
    neither GDX nor SLW are following yet, both should be up more with gold up 21 today
    4 Apr 2014, 12:27 PM Reply Like
  • Agent Graves
    , contributor
    Comments (147) | Send Message
     
    Gold is on the move because they ran out of physical again, so the GOFO is back underwater.
    4 Apr 2014, 11:00 AM Reply Like
  • filipo
    , contributor
    Comments (4635) | Send Message
     
    "Roughly inline jobs number"

     

    ?????

     

    192,000 instead of 200,000, indeed "roughly".
    And again, the quality isn't so good either: most lower paid jobs.
    And unemployment stays at 6.7% instead of 6.6 expected.
    After Yellen's dovish report, I don't expect FOMC to resume tapering so swiftly.
    4 Apr 2014, 11:46 AM Reply Like
  • june1234
    , contributor
    Comments (4259) | Send Message
     
    Hey bartenders and restaurant workers are people too you know
    4 Apr 2014, 12:20 PM Reply Like
  • EconomicEcologist
    , contributor
    Comments (87) | Send Message
     
    BAA Solid long-term investment. http://bit.ly/1ikoUBP
    4 Apr 2014, 12:33 PM Reply Like
  • justaconsumer
    , contributor
    Comments (104) | Send Message
     
    Is it me or should they spent the QE differently?
    4 Apr 2014, 02:04 PM Reply Like
  • Agent Graves
    , contributor
    Comments (147) | Send Message
     
    You don't think letting HFT firms skim every dollar of QE was a good idea?
    4 Apr 2014, 02:49 PM Reply Like
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