Park Avenue Numismatics
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Miami, FL 33137
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Gold price holding on to solid gains as U.S. jobless claims falls to new pandemic low
Gold last traded at $1,814 an ounce. Silver at $24.11 an ounce.
NEWS SUMMARY: Precious metal prices rose Friday on bargain-hunting despite a firmer dollar. U.S. stocks rose after the October jobs report came in better than expected, boosting optimism about the economic recovery.
K
ITCO--"The gold market is seeing a modest push higher, unfazed by steady positive momentum in U.S. labor market.
Thursday the U.S. Labor Department said that weekly jobless claims fell to a new pandemic low, dropping by 14,000 to 269,000. The previous week's estimate was revised up to 283,000 claims.
The latest labor market data slightly beat market expectations as economists were looking for a print of about 273,000 claims....
The gold market was holding solid gains before the latest employment data was released and prices have pushed higher in initial reaction. December gold futures last traded at $1,789.50 an ounce, up 1.45% on the day."
