Gold Futures Index (GOLD)

[Pro-Life]

Comex Gold Extends Already Sharp Gains in Wake of Very Weak U.S. Jobs Report

02 September 2011, 08:39 a.m.
By Jim Wyckoff
Of Kitco News
http://www.kitco.com/

http://www.kitco.com/reports/KitcoNews20110902JW_update.html

(Kitco News) -Comex gold futures prices are trading sharply higher and have hit a two-week high in the wake of a very weak U.S. employment report. The key non-farm payrolls figure came in at zero growth during August, while the consensus was for growth of 80,000. The July non-farm jobs figure was also revised downward. It's keener "risk off" trading Friday morning and that's bullish for the safe-haven precious metals. Keep an eye on the U.S. stock indexes Friday. Stronger losses in the U.S. stock market Friday could push gold prices still higher and close to $1,900.00 an ounce. If the U.S. stock indexes stabilize and move off their lows Friday during the session, then gold would also likely come off its session highs. December gold last traded up $41.00 at $1,870.00.

By Jim Wyckoff contributing to Kitco News; [e-mail]


Zero growth??? WTH!!! Thanks almighty power brokers/puppet masters... Any other companies want to send facilities/jobs overseas???