US Gold weakens to $1218/oz on US jobs data
Employment growth accelerated in USA in June, though probably not at a pace fast enough to encourage the Federal Reserve to pull back on its monetary easing policy.Unemployment steadied at 7.6 percent for the month, as nonfarm payrolls grew by 195,000, according to a closely watched Labor Department report Friday.
US gold futures prices have fallen 2.68% on Friday following the release of the much awaited US jobs data and non-farm payrolls data.
Employment growth accelerated in USA in June, though probably not at a pace fast enough to encourage the Federal Reserve to pull back on its monetary easing policy.Unemployment steadied at 7.6 percent for the month, as nonfarm payrolls grew by 195,000, according to a closely watched Labor Department report Friday.
The numbers provided a mixed bag of news: While the actual employment level grew by 160,000, the unemployment ranks increased as well, by 17,000.Those working part-time for economic reasons also jumped, growing 32,200 for the month.
Silver futures at Comex fell 4.34% on Friday tracking bearish trend in gold at $18.845 an ounce.
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