As the US Dollar slipped back, it helped push the price of gold a touch higher, but we appear to be stuck in and around these levels, with a two-way pull in play. Dollar weakening will traditionally push gold lower, but the better than expected non-farm payroll figures released on Friday give speculators less need to go searching for safe havens, instead looking for higher yielding, maybe riskier, assets.

gold_8_3_10

Gold & Silver

Commodity

Level

Change

GOLD

$1,136.35

+$2.45

SILVER

$17.43

+$0.12

Market News

  • Fridays non-farm payroll figures showed that 36,000 jobs were lost in February, much better than analysts had expected
  • Japan's current account surplus topped forecasts. Expectation was Y783.9BN, but it came in at Y899.8bn
  • The IMF's Managing Director commented that the problems in Greece were unlikely to spread to other parts of Europe

Major Economic News

TIME

MARKET DATA

1100

GERMAN INDUSTRIAL PRODUCTION