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Daily Nugget – Gold Rises Above US Pressure
by Jan Skoyles The Real Asset Co Last week was uncomfortable for those in gold investment as the gold price fell below $1,300 once again, however the non-farm payroll data was quick to remind us of the delicate nature of the so-called US recovery.
Friday’s non-farm payroll data showed the lowest increase in jobs for the last four months, putting the US dollar on the back foot to gold bullion which rose back above $1,300. Observers expect the FOMC to look for more evidence of a strong US economy before embarking on QE tapering.
This morning the gold price has held steady following Friday’s gains. Concerns that the Fed will taper QE imminently have subsided, for now.
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