Gold prices fall back - US economic data still pointing towards a general recovery

Amid a knee-jerk reaction to the very poor headline non-farm payroll numbers. However, a closer look revealed that bad weather during the survey week had depressed the payroll statistics. In addition, the drop in the unemployment rate to 9%, from 9.4% previously, once again fuelled hopes of a strengthening economy and saw gold prices fall back towards their early-afternoon levels.

With the US economic data still pointing towards a general recovery, the easing of tensions in Egypt has contributed to an increase in risk appetite. This has helped support the equity markets, but is also keeping precious metals on the back foot. The notable exception however is silver, which is benefiting from its semi-industrial nature and is looking more towards copper for direction. Copper is trading comfortably above the $10,000 (after touching new highs), on the back of global recovery hopes.

Gold support is at $1,343 and $1,337. Resistance is at $1,357 and $1,364.


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I found Gold Investment in Malaysia is a vary good tools to make profit when the market is down. I also found that Gold Price go up and down more slower compare to share market so to make money in long term, Gold is the right tools. This blog is all about Malaysia Gold Info and the way to make profi

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