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The News Miscellaneous Gold Rises Above $900 After Weak U.S. Jobs Data
The News Miscellaneous Gold Rises Above $900 After Weak U.S. Jobs Data
| Gold Rises Above $900 After Weak U.S. Jobs Data |
| News - Miscellaneous |
| Written by Moming Zhou, MarketWatch |
| Thursday, 05 February 2009 08:42 |
|
NEW YORK (MarketWatch) -- Gold futures rose Wednesday for the first session in three, climbing back above $900 an ounce as safe-haven buying returned, helped by data indicating another hefty month of job losses in the U.S.
The U.S. private sector shed 522,000 jobs in January, according to the ADP employment index. Separately, reserves of gold and gold receivables held by euro-zone central banks rose last week for the first time in two months, the European Central Bank reported Tuesday. Gold for February delivery ended up $9.60, or 1.1%, at $901.60 an ounce on the Comex division of the New York Mercantile Exchange. The contract had closed below $900 in the previous session. |