Live Spot Gold
SPOT MARKET IS OPEN
closes in 3 hrs. 25 mins.May 08, 2020 13:35 NY Time
| Bid/Ask | 1708.80 / 1709.80 | |
| Low/High | 1701.40 / 1726.40 | |
| Change | -9.20 | -0.54% |
| 30daychg | +62.30 | +3.78% |
| 1yearchg | +428.50 | +33.47% |
| Alerts Charts |
Silver Price & PGMs
May 08, 2020 13:35 NY TimeKitco 10AM Silver Fix
| Silver | 15.44 | +0.08 |
| Platinum | 764.00 | +3.00 |
| Palladium | 1780.00 | -11.00 |
| Rhodium | 3500.00 | 0.00 |
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(Kitco News, Fri. May 8th, 2020) – Wall Street and Main Street look for gold to keep rising next week after a report Friday confirming what was widely expected – a lot of workers lost their jobs in the U.S. last month.
The Labor Department reported that April nonfarm payrolls fell 20.5 million, while the unemployment rate soared to 14.7%, the highest level since the early 1930s. Dramatic labor-market was weakness expected based on weekly initial jobless claims over the last several weeks.There is a lot of uncertainty if some of these jobs are ever going to come back,” said Sean Lusk, co-director of commercial hedging with Walsh Trading. “Some of them won’t; hopefully most of them will. I think it’s just a matter of time before we [gold prices] make a run to at least $1,750…and potentially challenge the high for the year,” he continued, referring to the mid-May peak of $1,788.80 an ounce in the Comex June futures.
Six out of 11 Wall Street voters, or 55%, said they are bullish for the week ahead. Three voters, or 27%, called for lower prices, while two, or 18%, were neutral.
Meanwhile, 750 votes were cast in an online Main Street poll. A total of 502 voters, or 67%, looked for gold to rise in the next week. Another 139, or 19%, said lower, while 109, or 15%, were neutral.
Posted by :
Jack Dempsey, President
401Gold Consultants LLC
jdemp2003@gmail.com