Gold Surges Following Jobs Report
Gold futures jumped after the release of the jobs report--which showed 256,000 jobs being added in December, more than expected by the market.
"Gold's strength following a robust jobs report might seem counterintuitive, as it typically suggests a stronger dollar and higher yields, which are headwinds for gold," says Alex Ebkarian of Allegiance Gold. "But this reaction highlights a broader unease among investors--it reflects deeper fears about structural issues like unsustainable debt levels, overvalued markets, and geopolitical uncertainty."
Gold is now up 1.5%, to $2,732 an ounce--nearing the record of $2,800 an ounce set in October.
Source : Dow Jones Newswires