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Weekly Market Reports

Investors Struggle with Bullion Prices Following Latest U.S. Jobs Report

Gold prices dipped over 2% Monday, settling below $1,500, its lowest finish in two months, as strength in U.S. dollar and some flexibility in U.S. stocks drew demand away from bullion. The recent drawback in Precious Metals has come as the dollar has been firming, amid weakness in global currencies. Gold prices ended higher Tuesday, as a drop in the U.S. Institute for Supply Management’s manufacturing index pulled benchmark stock indexes lower, fueling demand for the Precious Metal. The Institute for Supply Management said that its manufacturing index fell to 47.8% last month from 49.1%, marking the lowest level since June 2009, when the Great Recession ended.

Gold prices settled back above the key $1,500 mark on Wednesday, after private-sector employment showed that the pace of hiring in the U.S. is slowing, reviving worries about a recession in the U.S. economy and prompting the purchase of haven assets. Gold prices on Thursday fell slightly, as the Precious Metal struggled to extend a recent stretch of gains to a third consecutive session. To end the week, Gold prices struggled on Friday, following a mixed reaction to the latest U.S. jobs report.

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Disclaimer:
APMEX Market Reports provide our readers with a review of spot price activity and some of the factors that may be affecting the market for Precious Metals. While the information is obtained from sources we believe to be reliable, we do not guarantee its accuracy or its completeness and we encourage you to conduct your own investigation prior to making any decision based on the information. The Market Reports are not intended as a comprehensive discussion and there may be other factors affecting the financial marketplace. These Market Reports are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, purchase or sell any Precious Metal product. All orders, purchases and sales, if any, are subject to the terms of the User Agreement and other applicable policies.

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