• Gold price slightly declines as market participants continued to eye the U.S. labour market data

Market news

7 September 2015

Gold price slightly declines as market participants continued to eye the U.S. labour market data

Gold price slightly decreased as market participants continued to eye the U.S. labour market data. The U.S. Labor Department released the labour market data on Friday. The U.S. economy added 173,000 jobs in August, missing expectations for a rise of 220,000 jobs, after a gain of 245,000 jobs in July. July's figure was revised up from a rise of 215,000 jobs.

The U.S. unemployment rate dropped to 5.1% in August from 5.3% in July, exceeding expectations for a decline to 5.2%. It was the lowest level since April 2008.

Average hourly earnings rose 0.3% in August, beating forecasts of a 0.2% gain, after a 0.2% increase in July.

U.S. markets are closed for a public holiday today.

October futures for gold on the COMEX today fell to 1118.30 dollars per ounce.

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.