Gold Gains 1.2 Percent in Weekly Trades
For the week, prices tacked on roughly 1.2%. Prices reached their
highest since November this week. Gold futures edged lower Thursday,
trimming recent gains amid another encouraging report on the U.S. jobs
market.
Gold futures were flat Friday, preserving most of their
weekly gains by rebounding from early losses. April gold fell 90 cents,
or less than 0.1%, to settle at $1,235.90 an ounce after trading as low
as. The number of Americans filing for unemployment benefits
unexpectedly fell last week to near a 43-year low, the Labor Department
said. Although a pair officials signaled the Federal Reserve will not
raise rates until inflation is sustained near 2%, the improving jobs
market removes a hurdle to removing monetary policy accommodation.
Get live News Updates visit us at http://www.ripplesadvisory.com or One Missed Call on @9303-093093.
After
showing U.S. consumer sentiment at a thirteen-year high in the previous
month, the University of Michigan released a report on Friday showing
that consumer sentiment has pulled back by more than expected in
February. The preliminary report showed that the consumer sentiment
index dropped to 95.7 in February from the final January reading of
98.5. Economists had expected the index to edge down to 97.9. The bigger
than expected decrease by the index came after it reached its highest
level since January of 2004 in the previous month.
0 comments
Note: only a member of this blog may post a comment.