Gold Rises as Dollar Takes No Heart from Jobs Data

Reuters reported that steady unemployment rates caused gold prices to increase.

As quoted in the market news:

Gold rose 0.4 percent to trade at $1,655.64 an ounce by 1442 GMT, having touched an intraday high of $1,665.99 earlier, while U.S. December gold futures were up 0.1 percent at $1,655.60.

Deutsche Bank analyst Michael Lewis said:

“To me, (the data) doesn’t change the interest-rate environment for gold, which is still very positive, with more gains ahead. And from where we are in real interest rate terms, you should see gold returns of 30 percent year-on-year.”

Click here to read the full Reuters report.