[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Immediate Use of Ivermectin Medicine Globally Can End COVID-19 Pandemic: Scientists

COVID Fraud – Lawyers & Medical Experts start legal proceedings against W.H.O and World Leaders for ‘Crimes against Humanity’

School Board Nazi struggles to breathe while she orders kids to wear masks…

Warren says she'll run for reelection to Senate

WiThheld rouTers ... The laTesT of many roadblocks --- To Arizona SenaTe's audiT of 2020 elecTion

Windham ResidenTs ... Refuse --- To Be Silenced

When Cruelty Actually Is The Point

Fauci's agency spent over $400k on experiments grafting aborted fetal scalps onto mice and rats

Who Is Bill Gates? (Full Documentary, 2020)

Here Is What Republican Voters Really Believe in. It's a Shame the GOP Has No Idea

guTTing america ... going back --- on Track

“The ElecTion is Over”... Trump HaTer Cindy McCain Trashes Arizona ElecTion AudiT ---“Ludicrous” (VIDEO)

DissidenT Episcopalians awarded $100 million worTh of property ... as U.S. Supreme CourT --- declines To Take up Fort WorTh case

Joe Biden needs to stop lying about the cause of the border crisis and start fixing it

George W. Bush says ... The Republican ParTy has a shoT aT fuTure elecTions if iT curbs --- iTs 'whiTe Anglo-Saxon ProTesTanTism' ( heriTage )

BREAKING EXCLUSIVE - TGP’s Jordan Conradson InTerviews AZ AudiT DirecTor Ken BenneTT — HUGE DEVELOPMENTS ... Including Plans To Triple OuTpuT --- QuesTions on Number of FraudulenT BalloTs (VIDEO)

Can Democrats Avoid a Wipeout in 2022?

Biden declares war on America -- literally

Former Trump assisTanT says ... 'freighT Train' of elecTion resulT audiTs coming --- 'The MAGA movemenT is demanding answers'

Tim Scott's 2024 Star Rises After Biden Rebuttal

“We Will Find MisTakes – IrregulariTies ... We Probably Are Going To Find OuTright Fraud” --- AZ GOP Chair Dr. Kelli Ward Give - UpdaTe on HisToric AudiT (VIDEO)

Australia security official warns nations are ‘beating drums’ of war amid Asia-Pacific tensions

Former Obama White House advisor Seth Andrew arrested, accused of stealing from charter school he founded

This is fo sucking funny ... Joe has no clue --- The dumbocrap leaders are in a hearT aTTack panic!!.

The voter suppression lie

War Room ... Rachel Maddow Is Worried abouT whaT AZ ElecTion AudiT will Find — She Knows Georgia Is NexT

Conspiracy Queen Rachel Maddow ... Panics Over --- ‘Dangerous’ Arizona Vote AudiT

‘True To iTs docTrine’ ... ConservaTives plan for a new church afTer UniTed MeThodism spliTs --- over homosexualiTy debaTe

Michael Eric Dyson - WhiTe People Can Help BLM ...by Holding RacisT RelaTives --- ‘To AccounT’ aT Thanksgiving

Derek Chauvin ... The GreaT --- WhiTe DefendanT

New Mexico state trooper executed by Mexican cartel member… Horrific Video

John Kerry in Earth Day wonderland

Democrats Are Cheaters

Derek Chauvin's FaTe ... Is Now in The Hands --- of The Jury

Fools' overture

Democrats Are Terrified of Georgia

Climate Media vs. Climate Science

Why We Black Leaders Support Voter ID Laws

Pelosi: ‘No Plans' to Bring a Court-Packing Bill to the House Floor – at This Time

B-1 Bombers Are Deploying To Norway For The First Time With An Eye On Nearby Russia And The Arctic

High School Coach Fired After Refusing To Enforce “Insane” Outdoor Masks During Sports

CNN Says Chinese-Style Fonts Are Racist

Gran Torino Denounced for Anti-Asian Racism

'It Is Still Not Safe To Go Outside,' Says Fauci's Head In A Jar In Year 2739

Biden Re-Ignites the Waco Fire

Over 500 White People Have Been Killed By Cops Since 2020. There Has Been No Rioting Over Those Deaths.

Buttigieg on Exaggerated Infrastructure Jobs Estimate: ‘I Should Have Been More Precise’

Videos - ChrisTians Tear Down MeTal Fences ... Denounce The Closure Of GraceLife Church --- Due To A COVID-19 ResTricTions

Pete BuTTigieg ... To evangelical vaccine hold-ouTs --- Maybe iT's parT of God's plan

TINHORN FLATS ... The Symbol of Modern Day America --- AgainsT Tyranny

Status: Not Logged In; Sign In

See other Business Articles

Title: Gold Sheds 3% as US Employment Data Beats Forecast
Source: CNBC
URL Source: http://www.cnbc.com/id/100865277
Published: Jul 5, 2013
Author: CNBC
Post Date: 2013-07-05 14:04:55 by Brian S
Keywords: None
Views: 3588
Comments: 11

Gold fell 3 percent on Friday, extending earlier losses as the dollar climbed after stronger-than-expected U.S. jobs data, which could tempt the Federal Reserve to start scaling back its monetary stimulus later this year.

The U.S. non-farm payrolls report showed employers added 195,000 new jobs to their payrolls last month, while the unemployment rate held steady at 7.6 percent as more people entered the workforce. Economists had forecast new jobs of 165,000.

The data could affect the timing of the U.S. central bank's expected scaling down of its $85 billion monthly bond purchases, the prospects of which has already triggered turbulence across major asset classes worldwide.

Spot gold dropped by 2.7 percent to $1,216 an ounce and is set for a third consecutive week of losses.

U.S. gold futures for August delivery fell 3 percent to $1,214.

"After the strong U.S. numbers we are approaching the point in which the Fed will start to taper and as a consequence we fully expect that, if the U.S. economy continues to improve, you will see a further strengthening of the dollar, which is negative for the dollar-denominated gold price," Natixis analyst Nic Brown said.

Gold posted its biggest quarterly loss on record, down 23 percent in the April-June period, with selling exacerbated by comments from Fed Chairman Ben Bernanke last month that the U.S. economy was recovering strongly enough for the central bank to begin tapering in the next few months.

That would support a rise in interest rates, making gold less attractive.

The dollar rose to a three-year high against a basket of major currencies, while the benchmark 10-year U.S. Treasury yield rose to its highest level since August 2011 at 2.67 percent earlier.

(Read More: Gartman's 'Watershed' Shift on Gold)

As gold pays no interest, the rise in returns from U.S. bonds and other markets is seen as negative for the metal.

The metal, which staged a rebound from last Friday's near three-year low of $1,180.71 an ounce this week, had come under pressure after the European Central Bank signalled in the previous session that it could cut interest rates further, pressuring the euro against the dollar.

"The euro is likely to remain weak, as the ECB will remain accommodative longer than the Fed... And when combined with relatively subdued inflation expectations on both sides of the Atlantic, this is gold bearish," VTB Capital said in a note.

Under Pressure


 NamePrice Change%ChangeVolume
GOLDGold1214.10 -37.80-3.02%203322
GOLD/USDGold / US Dollar Spot1214.40 -34.79-2.79%---
SILV/USDSilver / US Dollar Spot18.75 -0.76-3.90%---
SILVERSilver18.75 -0.95-4.82%49708
PALL/USDPalladium / US Dollar Spot677.97 3.470.51%---
PLAT/USDPlatinum / US Dollar Spot1320.49 -18.01-1.35%---

Under Pressure

Rapid outflows from gold exchange-traded products (ETPs) and softer-than-expected physical demand were also keeping gold prices under pressure.

Gold ETPs holdings fell by $4.1 billion in June and $28.2 billion year-to-date, according to data from BlackRock.

(Read More: Brighter Jobs Picture to Tip Fed Taper?)

Indian consumption has fallen since the government imposed new import restrictions, while Chinese buyers are waiting on the sidelines for prices to fall further, or at least stabilise.

Silver fell 3.6 percent to $19 an ounce. Platinum was down 1.2 percent at $1,325 an ounce while palladium rose 0.4 percent to $677 an ounce.

(1 image)

Post Comment   Private Reply   Ignore Thread  

TopPage UpFull ThreadPage DownBottom/Latest

#1. To: Brian S (#0)

You libTURDS should ALL sell ALL of your gold right NOW!

Oh yeah, libTURDS don't actually have any gold, you suck the gold out of other people.

My bad.

who cares  posted on  2013-07-05   16:19:55 ET  Reply   Trace   Private Reply  

#2. To: who cares (#1)

Getting whacked, eh? At what price did you buy in at, $1800? LOL.

I feel your pain...

Never swear "allegiance" to anything other than the 'right to change your mind'!

Brian S  posted on  2013-07-05   20:41:30 ET  (1 image) Reply   Trace   Private Reply  

#3. To: Brian S (#0)

195,000 new jobs in the traditionally strong month of June is anemic for an economy which needs regular monthly job increases in excess of 200,000 for sustained growth.

Thunderbird  posted on  2013-07-06   7:14:58 ET  Reply   Trace   Private Reply  

#4. To: Thunderbird (#3)

195,000 new jobs in the traditionally strong month of June is anemic for an economy which needs regular monthly job increases in excess of 200,000 for sustained growth.

Tell that to those supposed 'job creatin' rich, Jethro. They got what they wanted.

Almost every country in the Middle East is awash in oil, and we have to side with the one that has nothing but joos. Goddamn, that was good thinkin'. Esso posted on 2012-01-13 7:37:56 ET

mininggold  posted on  2013-07-06   14:34:44 ET  Reply   Trace   Private Reply  

#5. To: Brian S (#2) (Edited)

Getting whacked, eh? At what price did you buy in at, $1800? LOL.


Spoken as the true libTARD know nothing fool we all know you to be brianna!

Anybody who looks at the PM group as an "investment" is a fool.

The PM group including gold is about preservation of value fool.

Always has been, always will be, fool.

SOP is 10% or less of your portfolio in them as a hedge. I'm sure that a fool such as you has no grasp of "dollar cost averaging" either.

Of course a welfare check getting parasite such as you has no "portfolio" do you brianna?

ALL of my gold cost much less than $1000./ozt brianna.

Soon, after this correction, I will start buying again.

SELL all of your PMs NOW brianna!


who cares  posted on  2013-07-07   15:04:25 ET  Reply   Trace   Private Reply  

#6. To: who cares (#5)

libTARD, brianna

You talk as if you were a 3rd grader...

Grow up and perhaps people will take you seriously.

Never swear "allegiance" to anything other than the 'right to change your mind'!

Brian S  posted on  2013-07-07   19:57:49 ET  Reply   Trace   Private Reply  

#7. To: Brian S (#6)

Piss OFF you gibbering libTURD whore.

"AND the horse you rode in on."

who cares  posted on  2013-07-07   20:44:13 ET  Reply   Trace   Private Reply  

#8. To: Brian S (#6)

I'll advise you to quit interacting with a mentally unstable poster. Hope you are doing ok.

Fred Mertz  posted on  2013-07-07   23:24:06 ET  Reply   Trace   Private Reply  

#9. To: Fred Mertz (#8)

Then why are you posting to him freddy boy?

who cares  posted on  2013-07-08   20:11:37 ET  Reply   Trace   Private Reply  

#10. To: mininggold (#4)

Tell that to those supposed 'job creatin' rich, Jethro.

Tell them what? That your inbred progeny are too stupid to compete anymore?

Thunderbird  posted on  2013-07-08   23:32:54 ET  Reply   Trace   Private Reply  

#11. To: Thunderbird (#10)

Tell them what? That your inbred progeny are too stupid to compete anymore?

That's not "fair"!

Her porcine progeny are active elbow users when they are in line for their "bennies".

NOBODY stands their ground at the trough as well as they do!

who cares  posted on  2013-07-09   16:12:02 ET  Reply   Trace   Private Reply  

TopPage UpFull ThreadPage DownBottom/Latest

[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Please report web page problems, questions and comments to webmaster@libertysflame.com