more poor jobs data on Friday from the US saw a bid under metals prices, with gold and silver closing out the week strongly
more poor jobs data on Friday from the US saw a bid under metals prices, with gold and silver closing out the week strongly. Both metals have continued their impressive start to 2014 and are now trading at USD $1268 and USD $20.15 respectively. NFPs were of course a big miss, coming in over 60k below consensus, although the unemployment rate did drop to 6.6% Once again weather has been blamed for the poor report, with more economists and analysts using this excuse than the number of grade 7 students pulling out the famous 'dog ate my homework' excuse. We have no doubt weather has been a factor in the dissapointing reads the past two months, but we are talking about misses to expectations here. The weather should have been factored in If gold can get above USD $1280, then a run above USD $1300 could be on the cards. More details here (VIEW LINK)
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