Download now: Gold and Silver Mining Stocks

December Jobs Data Gives Gold a Boost

Unemployment Rate Remains Stable

Written by Swagato Chakravorty
Posted January 7, 2013

The latest jobs report released on Friday suggested that December hiring remained stable.

December's rate unfortunately fell below the rate needed to reduce the unemployment figures to more reasonable levels, meaning the Federal Reserve will likely maintain its asset purchase program.

Gold will continue to be attractive as a safe-bet investment as the stimulus continues.

From CNBC:

"Investors think that the payroll report is still not enough to change the Fed's accommodative policy, which is a positive for gold," said Howard Wen, metals analyst at HSBC.

The news caused bullion to go up 1.5 percent, although spot gold dropped 0.6 percent to hit $1.653.60/oz. Futures for February were down to $1,648.90/oz.

Earlier in the day gold had fallen to a four-and-a-half month low after Fed minutes revealed uncertainty within the Fed about the stimulus program.

Gold has performed in close sync with the Fed’s moves, particularly as the Fed has explicitly linked its extremely loose monetary policy to the jobs numbers.


The Best Free Investment You'll Ever Make

Sign up for the free Wealth Daily e-letter below.

In each issue, you'll get our best investment research, designed to help you build a lifetime of wealth, minus the risk.


By signing up, you'll instantly receive our new report: Surviving the Coming Economic Collapse.... Finding The Most Profitable Investing Opportunities For Your Portfolio.
We Protect Your Privacy

Related Articles

Buy Dips in Gold
In the end, large-scale gold purchases by central banks can't help but build the bullish case for all precious metals, especially gold, over the next decade or two.
Silver and Gold, Silver and Gold
What does velocity have to do, have to do with it? The Hammer talks about a new bull market in gold and silver.
Don't Sell Gold
Christian DeHaemer explains why gold is soon to be money under new secret, international banking rules. Only 92 days remain before this goes into effect...


What is the benefit of the email subscription?
While the Wealth Daily website offers access to the articles and reports, as a newsletter subscriber you will be among the first to receive access to the valuable advice, delivered directly to your inbox daily, and you will have access to deals on our exclusive services.
Greece's Keynesian Experiment
Big Government Doesn't Work
China's World Domination
And Why it's Not Going to Happen
Should Greece Pay Its Debt?
The Case for a Greek Default
Gold's Early Warning
Deflation May Be Coming
How to Retire Like a King
5 Tips for a $1 Million Retirement
Guaranteed Returns in Cotton Futures!
Uncle Sam's $5 Billion Cotton Scam
Investing in Rhenium
More Valuable Than Oil and Gold Combined!
How to Retire Like a King
5 Tips for a $1 Million Retirement
Greece is Screwed!
10 Ways to Protect Yourself from the Global Economic Crisis
Investing in the Next Silver Bull Market
Silver Short Selling: Manipulation or Opportunity?
Report: How to Make Your Fortune in Stocks