Spot gold enjoyed a monster rally on Friday with a high of $1178. The US payrolls report alone didn't cause such a strong reaction

Pepperstone
Spot gold enjoyed a monster rally on Friday with a high of $1178. The US payrolls report alone didn't cause such a strong reaction. If you look at the U6 unemployment rate - the broadest measure of unemployment - it fell 30 basis points to a six year low. There was a 683,000 jump in the household survey, which effectively saw the participation rate increase a touch. Despite this, the headline unemployment rate ticked down to 5.8% and is now only 30 basis points from where the Federal Reserve classify as full employment. In this report I look at gold's technical setup, with an eye on the 30 Nov Swiss gold referendum - (VIEW LINK)
Welcome to Livewire, Australia’s most trusted source of investment insights and analysis.
To continue reading this wire and get unlimited access to Livewire, join for free now and become a more informed and confident investor.


Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...
Expertise

Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...
Please sign in to comment on this wire.