2nd December 2011
The publication of strong jobs data coming out of the US today (December 2nd) has had a positive impact on gold pricing, with the commodity having a strong afternoon as a result.
It showed a rise by 0.9 per cent ($15.20) to $1,758 per ounce after the US figures revealed non-farm personnel in the country increased by 120,000 last month - slightly down on estimates of 125,000 but nonetheless a positive step.
In addition, the reports from October and September were revised upwards by a combined 72,000, further adding to the growing strength of the figures.
Gold ended last month on a steady course after showing an increase of two and 0.16 per cent on November 28th and 29th respectively.
"If you have a look further out for the next six or even 12 months, we think gold is very well supported around its current levels," Commerzbank analyst Daniel Briesemann told Reuters.
Begin trading today! Create an account by completing our form
At One Financial Markets we are committed to safeguarding your privacy.
Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.