(Kitco News) – Gold prices are modestly higher in early U.S. trading Friday and little changed from levels seen just before an important U.S. economic report was released. December gold futureswere last up $2.80 an ounce at $1,204.30. December Comex silver was last up $0.06 at $14.645 an ounce.
This morning’s U.S. Labor Department Employment Situation Report for September showed the key non-farm payrolls number come in up 134,000, which was a miss to the downside as the consensus forecast was up 180,000. However, the July and August reports revised up significantly the non-farm jobs numbers by a total of 87,000. Inclement weather—namely hurricanes–in the reporting period is also blamed for the lower jobs reading. The September unemployment rate fell to 3.7%–the lowest level since 1969. The U.S. wage-growth figure is also closely watched, and it came in at 2.8% versus 2.9% in the August report.
World stock markets were mostly lower overnight, still pressured by rising world government bond yields. U.S. stock indexes are pointed toward slightly higher openings when the New York day session begins. Chinese markets have been closed all week for a public holiday.
This morning’s U.S. Labor Department Employment Situation Report for September showed the key non-farm payrolls number come in up 134,000, which was a miss to the downside as the consensus forecast was up 180,000. However, the July and August reports revised up significantly the non-farm jobs numbers by a total of 87,000. Inclement weather—namely hurricanes–in the reporting period is also blamed for the lower jobs reading. The September unemployment rate fell to 3.7%–the lowest level since 1969. The U.S. wage-growth figure is also closely watched, and it came in at 2.8% versus 2.9% in the August report.
World stock markets were mostly lower overnight, still pressured by rising world government bond yields. U.S. stock indexes are pointed toward slightly higher openings when the New York day session begins. Chinese markets have been closed all week for a public holiday.