Gold settled down -0.72% at 29705 settled down after an unexpectedly strong U. S. jobs report reignited fears the Fed could begin scaling back its support for the economy soon. Data from the U. S. Labor Department showed employers added 204,000 new jobs to their payrolls last month, well above estimates of 125,000, showing resilience of the economy despite a partial government shutdown. While Investors are watching key data on the U. S. economy to gauge when the Fed could begin tapering its $85 billion monthly bond purchases. They fear that strong data would prompt the U. S. central bank to cut back purchases before the end of the year.
Wednesday, November 13, 2013
Commodity Trading Tips for Gold by KediaCommodity
Gold settled down -0.72% at 29705 settled down after an unexpectedly strong U. S. jobs report reignited fears the Fed could begin scaling back its support for the economy soon. Data from the U. S. Labor Department showed employers added 204,000 new jobs to their payrolls last month, well above estimates of 125,000, showing resilience of the economy despite a partial government shutdown. While Investors are watching key data on the U. S. economy to gauge when the Fed could begin tapering its $85 billion monthly bond purchases. They fear that strong data would prompt the U. S. central bank to cut back purchases before the end of the year.
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