Kenneth, what are the details of your post? This is what I have read to date and my only assumption is that you may have left off a line. Students going back to school.
Please verify what you have posted. Thanks.
Gold Futures Little Changed Before Friday's U.S. Jobs Report
Sept. 2 (Bloomberg) -- Gold futures were little changed before a report Friday which may show the U.S. added nearly five times as many workers in August as it did the previous month, signaling an acceleration in the U.S. economy.
Employers probably added 150,000 workers, the median in a Bloomberg News survey, compared with 32,000 in July. Gold rose 4.8 percent in August, partly as the dollar fell against the euro on concern the U.S. economy was slowing, increasing the metal's appeal as an alternative investment to the U.S. currency.
``It appears many are waiting for Friday's release of U.S. job data to lend the market direction,'' Robert Lockwood and Stephen Abbriano, analysts at Bank of Nova Scotia in New York, said in a report.
Gold for December delivery fell 30 cents to $410.50 an ounce in after-hours trading on the Comex division of the New York Mercantile Exchange at 10:04 a.m. Sydney time. Gold futures fell 0.4 percent yesterday.
The precious metal rose 1.9 percent on Aug. 6 after the Labor Department said U.S. employers added 32,000 jobs in July, less than one-seventh the median forecast of 240,000 in a Bloomberg survey. It was gold's biggest gain in four weeks.
The dollar was near a one-week low against the euro on speculation the report will show the pace of U.S. job creation in August undershot economists estimates for a third month.
The dollar traded at $1.2192 against the euro at 9:31 a.m. Sydney time, from $1.2188 late yesterday in New York, according to EBS, an electronic currency dealing system.
Gold for immediate delivery was unchanged at $408.85 at 9:28 a.m. Sydney time, from 1.30 p.m. yesterday in New York.
To contact the reporter on this story:
Matt Chambers in Melbourne at mchambers1@bloomberg.net
To contact the editor responsible for this story:
Peter Langan at plangan@Bloomberg.net
quote.bloomberg.com
Initial claims for unemployment just took a big jump. Jobs report tomorrow. |
