INVESTORS AWAIT JOBS REPORT DATA AND FISCAL CLIFF DECISION
It appears that investors patiently await imperative data and decisions, such as tomorrow’s U.S. nonfarm payrolls data and the decision on the fiscal cliff that is approaching at the end of December. Today, European Central Bank President Mario Draghi confirmed that the eurozone requires a suitable fiscal policy be in place to begin growing a healthy economy again. Before that can occur, Draghi stated the economy may shrink in 2013, as the eurozone has been affected by the debt crisis.
The forecast for U.S. nonfarms payroll is optimistic, with an estimated 80,000 jobs created in November. Economists have expressed their concerns on the possible impact Hurricane Sandy had on the data with many in the affected areas searching for jobs. “We won’t have a sense of what underlying job growth is until we get the December number,” Gus Faucher, senior economist at PNC Financial Services, said. “We know Sandy is going to have a negative impact. We just don’t know what that is.”
At 5 p.m. (EST), the APMEX Precious Metals spot prices were:
- Gold, $1,701.10, Up $7.30.
- Silver, $33.07, Up $0.13.
- Platinum, $1,600.70, Up $15.50.
- Palladium, $694.80, Up $7.30.
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