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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
Comments (8)
  • Doug Eberhardt
    , contributor
    Comments (2723) | 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, 08:59 AM Reply Like
  • june1234
    , contributor
    Comments (2492) | Send Message
     
    neither GDX nor SLW are following yet, both should be up more with gold up 21 today
    4 Apr, 12:27 PM Reply Like
  • Agent Graves
    , contributor
    Comments (108) | Send Message
     
    Gold is on the move because they ran out of physical again, so the GOFO is back underwater.
    4 Apr, 11:00 AM Reply Like
  • filipo
    , contributor
    Comments (2727) | 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, 11:46 AM Reply Like
  • june1234
    , contributor
    Comments (2492) | Send Message
     
    Hey bartenders and restaurant workers are people too you know
    4 Apr, 12:20 PM Reply Like
  • EconomicEcologist
    , contributor
    Comments (87) | Send Message
     
    BAA Solid long-term investment. http://bit.ly/1ikoUBP
    4 Apr, 12:33 PM Reply Like
  • justaconsumer
    , contributor
    Comments (104) | Send Message
     
    Is it me or should they spent the QE differently?
    4 Apr, 02:04 PM Reply Like
  • Agent Graves
    , contributor
    Comments (108) | Send Message
     
    You don't think letting HFT firms skim every dollar of QE was a good idea?
    4 Apr, 02:49 PM Reply Like
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