Gold advanced before a report today that may show U.S. jobless claims increased, potentially delaying moves by the Federal Reserve to slow the pace of bond purchases. Silver and platinum climbed.
Gold tumbled 23 percent this year amid speculation the Fed will wind down its quantitative-easing program. Fed Bank of Cleveland President Sandra Pianalto said yesterday there has been “meaningful improvement” in the labor market and tapering may be warranted if it continues to strengthen. Jobless claims rose to 335,000 last week, after falling to a more than five-year low in the previous week, according to the median of estimates compiled by Bloomberg.
via Bloomberg
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Latest posts by Alfonso Esparza (see all)
- Market Rally Still Going Low Holiday Volumes Awaiting Start of 2020 - 27 December 2019
- Market Awaits China Retaliation on Trade - 29 November 2019
- Alibaba to Close Order Book Ahead of Huge IPO - 18 November 2019