NiveshDaily Commodity | November 11, 2014

Please Share::

�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��

��

-->

Bullion- Gold drops as dollar regains footing after soft U.S. jobs data
Recap
Gold fell on Monday after investors took a fresh take on Friday's soft October jobs report and determined
the data was not weak enough to convince the Federal Reserve to keep policy loose for longer to ensure
recovery. The dollar softened and gold spiked on Friday after the Department of Labor reported that the
U.S. economy added 214,000 jobs in October, missing expectations for an increase of 231,000. The U.S.
unemployment rate ticked down to a six-year low of 5.8% from 5.9% in September. While not
overwhelmingly disappointing, the less-than-stellar report gave investors room to sell the greenback for
profits and take time to rethink when the Federal Reserve will hike interest rates next year. By Monday,
investors snapped up fresh greenback positions on sentiments that the jobs report was strong enough to
keep the Fed on track to hike interest rates some time in 2015 considering that the economy continues to
add over 200,000 jobs a month save an anomaly here or there. Gold and silver settled on MCX division at
25733 and 34745 respectively


http://www.indianivesh.in/Admin/Upload/635512941948567500_Nivesh%20Daily%20Commodity%2011th%20Nov%202014.pdf