Arab Today, arab today gold jumps 3 pct as jobs gloom spurs safety bid
Last Updated : GMT 03:57:34
Arab Today, arab today
Arab Today, arab today

Gold jumps 3 pct as jobs gloom spurs safety bid

Arab Today, arab today

Arab Today, arab today Gold jumps 3 pct as jobs gloom spurs safety bid

New York - Spa

Gold surged nearly 3 percent on Friday, hitting its highest level since last week's record, as investors sought refuge in safe haven assets following a bleak U.S. labor market report, according to Reuters. Some investors viewed the lack of jobs growth in August as a sign the world's largest economy may be heading back into recession, heightening demand for gold. Some said it increased the odds of more stimulus from the Federal Reserve when it meets on Sept. 20-21, also a positive for bullion. "I think there was a great deal of disappointment with the employment numbers and that kicked off speculation of further quantitative easing or some sort of monetary response," said HSBC metals analyst and senior vice president James Steel. By 12:15 p.m. EDT (1615 GMT), spot gold was up $51.34 per ounce or 2.8 percent at $1,875.89 an ounce. It earlier rose to a high of $1,879.30, its highest level since hitting a record at $1,911.46 on August 23. Gold had notched up a sizable portion of the day's gain prior to the data, with traders having braced for yet another downbeat report ahead of the Labor Day holiday weekend. Trading volume picked up slightly from a week of subdued activity. "It was pretty much a one-way trade after the jobs report," Steel said. Along with gold, the rush to hold safe assets set off a rally in U.S. Treasury securities and the U.S. dollar dropped against the Swiss franc and yen. U.S. employment growth ground to a halt in August, as sagging confidence discouraged already skittish businesses from hiring. Jobs creation in July and June were trimmed by a total of 58,000 jobs, and the unemployment rate stood at 9.1 percent. The jobs data, the worst in nearly a year, put more pressure on the U.S. central bank's policy-setting committee, which meets next on September 20 and 21, having extended its confab to two days to allow time to examine all available options for boosting U.S. growth.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gold jumps 3 pct as jobs gloom spurs safety bid Arab Today, arab today gold jumps 3 pct as jobs gloom spurs safety bid

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gold jumps 3 pct as jobs gloom spurs safety bid Arab Today, arab today gold jumps 3 pct as jobs gloom spurs safety bid

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today US travel restrictions are still 'Muslim ban'

GMT 00:54 2017 Tuesday ,26 September

US travel restrictions are still 'Muslim ban'
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel builds settlements 'at high rate'

GMT 01:04 2017 Tuesday ,26 September

Israel builds settlements 'at high rate'
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Personality study finds fish have hidden depths

GMT 00:43 2017 Tuesday ,26 September

Personality study finds fish have hidden depths
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Botanical gardens a lifeboat

GMT 02:50 2017 Tuesday ,26 September

Botanical gardens a lifeboat
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:02 2017 Sunday ,24 September

Harry visits mental health hospital

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday