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Gold prices rose more than 2% after reporting September US jobs
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Vinanet - Report of US employment in September is not as expected, raised concerns around prospects for the Fed to raise interest rates later this year and triggered waves of short sales contract gold prices fell. As of 14h58 in New York, gold for immediate delivery rose 2.1% to $ 1136.4 / ounce from closing at $ 1113.5 1/10 / ounce, after rising 2.5% in early trading. Gold price in 12/2015 in the US rose 2% to $ 1136.6 / ounce. But during the week, gold prices fell 0.8%.
Vinanet - Report of US employment in September is not as expected, raised concerns around prospects for the Fed to raise interest rates later this year and triggered waves of short sales contract gold prices fell.
As of 14h58 in New York, gold for immediate delivery rose 2.1% to $ 1136.4 / ounce from closing at $ 1113.5 1/10 / ounce, after rising 2.5% in early trading.
Gold price in 12/2015 in the US rose 2% to $ 1136.6 / ounce. But during the week, gold prices fell 0.8%.
Today 2/10, the US Labor Department said the country's business sector only added 142,000 workers recruited in September, lower than the expected 203,000.
Confidence in the momentum of improving US labor market and the possibility the Fed will raise interest rates in the last year which also decreased. Shortly after this report, investors shorting racing betting contracts in gold prices, while strong bet on the rise of gold prices.
Many experts say, stagnation of the global economy, especially in China, is the main cause pulling down growth in the US economy recently.
In addition to gold, silver prices also surged 5.6% to the highest in 2 weeks $ 15.27 / ounce. Platinum also rallied 0.6% to $ 905.24 / ounce and palladium rose 3.3% to $ 695.97 / ounce.
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18/8/2025
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