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Gold catches modest bid following jobs numbers

Dec. 02, 2016 10:39 AM ETGLD, IAU, GTU, DGL, DGP, DZZ, DGZ, UBG, UGL, GLL, SGOL, PHYS, UGLDF, DGLDF, OUNZ, GYEN, GEUR, GLDI, QGLDXBy: Stephen Alpher, SA News Editor7 Comments
  • On balance, the jobs report was a strongish one, with job gains about inline, but the unemployment rate tumbling all the way to 4.6% from 4.9%.
  • A November whoosh lower in gold combined with big gains in bond yields and the dollar, however, likely discounted quite a bit of good economic news, and traders are using this morning's report as an opportunity to lighten up. Thus, gold is ahead 0.7% to $1,177.40 per ounce, while yields and the greenback both head south. The 10-year Treasury yield is off seven basis points to 2.38% and the dollar index is down 0.25%.
  • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, UGLD, GLL, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, GYEN, GEUR, UBG, QGLDX

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