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Gold Market To Reassess Following Jobs Report; Look To Chinese Data

wochit business
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March 07, 2014 AT 10:21 AM
Gold may reassess its views on the U.S. economy next week as it digests a higher-than-expected nonfarm payrolls report. Gold prices ended the week higher, but just barely, as the market gave back most of the gains inspired by geopolitical events following the stronger U.S. Labor Department data. The yellow metal may also look for direction once Chinese economic data is released to see if growth there is slowing. Metals traders will also keep an eye on the platinum group metals, which rose smartly this week on the tensions between Ukraine and Russia and the continued labor issues in South Africa.