| Report of the U.S. Department of Labor announced last week that , in the month 12/2013 , the U.S. economy added only 74,000 new jobs created , the lowest since May 11/2011 and lower than the median forecast average was 197,000 that analysts put out earlier . Nevertheless , the U.S. unemployment rate in the last month of 2013 decreased 0.3 percentage points to 6.7 % as more people gave up looking for work . According to analysts , the number of jobs was lower than expected due to unusually cold weather and this number is only temporary . However, this also has the ability to slow down the process of reduction of Fed stimulus . Dollar fell sharply against most major currencies after jobs data was released . |
Disappointing report on the labor market creates downward pressure on the greenback in the short term . U.S. economic data released this week include retail sales , manufacturing index and consumer confidence . Dollar will decline further if economic data make less optimistic .
GOLD PRICE INCREASE AFTER US LABOR REPORT
Gold prices rose sharply in trading last week when the U.S. Labor Department released employment report less positive than expected increase may not expect the Fed to speed reduction program QE3 quantitative easing . End of session 10/1 , the world gold price increased by 21 USD to 1.248 USD / ounce .
In opinion polls expert predicted the price of gold this week performed by Kitco News , have 12/23 feedback predicted price increase , 5 reviews forecasted prices fell , and 6 suggested that prices will horizontal scrolling . Participation in the weekly poll is gold trading companies , investment banks , trading houses commodity futures , fund managers , analysts and technical charts .
According to experts , with a strong rally last week , gold prices may also move beyond this week. However, investors should continue to monitor the economic data for the U.S. , by private employment report released last week is not enough to set a new trend for gold prices . If the data less optimistic about the U.S. economy continue to be made , the price of gold will have greater opportunities to continue to grow .
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