Gold (GLD) Sees Selling Pressure after Jobs Number
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Gold is seeing immediate selling pressure following the release of better-than-expected jobs numbers. The thinking would be that with better unemployment the fed will back off QE sooner rather than later. The target unemployment rate of the fed is 6.5%. Today's reported unemployment rate was 7.5%.
Gold spot last traded at $1461. The Gold ETF (NYSE: GLD) last traded down 0.4% to $141.32.
Gold spot last traded at $1461. The Gold ETF (NYSE: GLD) last traded down 0.4% to $141.32.
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