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Gold prices fell sharply against the dollar strengthening after strong labor market data the United States.
Job growth accelerated in September, and the unemployment rate fell below 6% for the first time since mid-2008, suggesting that the labor market is improving faster than previously thought. This was stated in the report of the United States Department of Labor.
According to the data, at the end of last month the number of people employed in non-agricultural sectors increased from a seasonally adjusted 248 thousand., The highest since June of this year. We also add that the growth in August was revised upward - up to 180 thousand. With 142 thousand., And the figure for July - up to 243 thousand. With 212 thousand. Unemployment rate, meanwhile, fell to 5.9% last month from 6.1% in August, reaching the lowest level since July 2008. Economists had expected the number of employees will increase by 216 thousand., And the unemployment rate will remain unchanged.
Today's report suggests that the labor market resumed its steady growth as seen in the late spring and early summer, after the decline in August.
The world's largest reserves of the gold-exchange-traded fund SPDR Gold Trust on Thursday fell by 1.19 tonnes to 767.47 tonnes - the lowest level since December 2008.
The cost of the December gold futures on the COMEX today dropped to 1191.20 dollars per ounce.