Weak ADP Jobs Report Boosts Gold (GLD)
Tweet
Share
E-mail
Spot gold, which can be traded using the EFT GLD (NYSE: GLD), was up on Wednesday after ADP numbers showed the U.S. added 113,000 jobs vs. a consensus of 175,000.
The ADP report helps give clues about U.S. jobs growth, with the official report on U.S. nonfarm-payrolls to come in on Friday. A weaker jobs picture could pave the way for more easing by the Fed, which is generally believed to be supportive of Gold prices.
The ADP report helps give clues about U.S. jobs growth, with the official report on U.S. nonfarm-payrolls to come in on Friday. A weaker jobs picture could pave the way for more easing by the Fed, which is generally believed to be supportive of Gold prices.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Warsh: I'm Here To Double Down On Fed's 2% Inflation Target
- Tradr plans two inverse ETFs targeting Oracle and Applied Optoelectronics
- PPI Final Demand (Jun) -0.3% vs 0.0% Expected, Ex Food and Energy 0.2% vs 0.3%
Create E-mail Alert Related Categories
ETFsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
