FX & CFD trading involves significant risk
Gold pullback from 4 -month high after the release of surprisingly strong data on the U.S. labor market .
U.S. labor market in February showed a marked improvement in February , beating estimates of experts. However, growth remains subdued and unemployment is consistently high.
The Labor Department said that the number of non-farm payrolls increased seasonally adjusted 175 million in February , compared with a rise of 129 million in January , which was revised up from 113 thousand also added that the increase in December also been revised - to 84 thousand 75 thousand
But despite the marked improvement , the unemployment rate also rose - to 6.7 % from 6.6 % in January. The labor force grew, but also allow the number of unemployed . Economists forecast that the number of employees will be at the level of 151 thousand and the unemployment rate - 6.6%.
Gold rose this year by 12% in terms of demand for safe assets due to concern growth of the U.S. economy , as well as Ukrainian crisis erupted . However, the results of the report on the U.S. labor market helped ease tensions.
Demand for gold in the physical market fell after the price exceeded $ 1,300 . Margins on the spot market of China on Friday below $ 1 per ounce , compared with more than $ 20 early this year.
The cost of the April gold futures on the COMEX today dropped to $ 1326.60 per ounce.
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.