The Phaserl


Weak US jobs data, ignoring Indian move leaves Gold “in tight range”

from BullionStreet:

Gold bullion traded for London delivery rose back through $1400 for the fifth day running on Wednesday morning, rising as the US Dollar slipped following weaker-than-expected jobs data.

Gold priced in the Euro ticked higher to 1075 euro per ounce, but was unchanged for the week so far in terms of Pounds Sterling below 914 pounds.

Silver prices rose back above $22.60 per ounce.

“The [gold] market has quite rightly shrugged this off,” says David Govett at brokers Marex Spectron of yesterday’s decision by the Indian government to ban credit-paid imports of gold bullion.

“If India wants gold, it will buy gold!”

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