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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Gold futures answer poor March jobs report with gains

Apr 09, 2012 10:31 AM

Gold futures on Monday had a delayed increase to an underwhelming jobs report issued late last week by the U.S. Department of Labor, according to published reports.

The precious metal also benefited from an increasingly active pace of gold commerce in India, where a 21-day strike ended late last week after the government said it is reconsidering its application of tariffs on the precious metal, according to Reuters. The subcontinent is the globe's second-largest consumer of gold, trailing only China, which displaced India earlier this year.

"People will be buying now after closing shops for weeks together as wedding season is on," Harshad Ajmera, the proprietor of JJ Gold House, told Reuters. "There were good retail sales yesterday."

At 8:23 a.m. on Monday, gold futures increased 0.78 percent, a $12.70 advance to $1,642.80 per troy ounce.

Dow Jones Newswires reports Monday is the market's first opportunity to answer the U.S. Department of Labor's jobs report from late last week since the final trading session of the week was Good Friday. One-hundred twenty-thousand new jobs were created last month, which is less than economists forecast.

 

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