GoldCore Precious Metals Update - Poor US Jobs Report Leads to Renewed Risk Aversion

By Goldcore Bullion Services Team
05 October 2009 @ 05:48 am EDT

Gold

Gold surged back through $1,000/oz on Friday, as the dollar weakened  based on poor US non-farm payroll data. It is holding above that level and a continued hold above $1,000/oz should signal that gold has strong fundamentals  despite its recent behaviour being influenced by short term dollar fluctuations. The poor US jobs report on Friday has led to falling stock markets in Asia and a tentative start in Europe. Concerns regarding a second economic downturn will likely lead to renewed risk aversion and this bodes well for gold and should see gold make new (nominal) record highs in the coming weeks.

Silver

Silver is currently trading at $16.28/oz.

Platinum Group Metals

Platinum is $1,284/oz, palladium is $9/oz above its Friday fix, currently trading at $300/oz. Rhodium is trading at $1,550/$1,650/oz.

IBTimes Commodity Commentaries

E-Newsletters

We value your privacy. Your email address will not be shared.

Home
World
US
Economy
Companies
Tech
Science
Global Markets
Education
Real Estate
Forex
Commodities
Gold & Silver Matters
More Sections
Fashion
Auto
Travel
Health
Law
Entertainment
Sports
Luxury
Art
Books
Tech & Trend
Tools & Features
Topics
Blogs
Market Data
Stock Watch List
Investment Calculator
Financial Glossary
Broker Center
World Business Headlines
Updates
RSS Feeds
IBTimes on Twitter
IBTimes on Facebook
E-Newsletters
Services
Forex Newsfeed
Research
Press Release
About IBTimes
News Licensing
Media Kit
Advertise with Us
About IBTimes
Contact Us
Terms of Service
Privacy Policy