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Gold prices rose after a report on the US labor market. The number of people employed in non-agricultural sector grew steadily at the end of last month, topping with the experts' forecasts, which indicates the continuing improvement in the US labor market. This was reported in the Ministry of Labour.
According to the data, the seasonally adjusted number of people employed in the non-agricultural sector increased in December by 252 thousand. Man. The main increase was recorded in professional and business services, construction, food service networks, health care and industrial sectors. We also add that the figures for October and November were revised upward - just 50 thousand. Jobs (growth in November to 353 thousand. 321 thousand., And in October - up to 261 thousand. 243 thousand.)
The unemployment rate was 5.6 percent in December, down two-tenths of a percentage point compared with the previous month. The last value is the lowest since June 2008. However, this change was associated with a decrease in the proportion of the labor force.
Economists had expected the number of people employed increased by 241,000 in December, and the unemployment rate drops to 5.7 percent.
Gold prices were supported by expectations of growing over whether the European Central Bank can start an active incentive program after meeting on 22 January, analysts said. This decision may have inflationary effects that enhance the attractiveness of safe-haven, such as gold.
The attractiveness of gold as a safe-haven weakened in recent months, as the US economic recovery is gaining momentum, and the rise in interest rates is more likely. However, gold futures rose this year amid concerns over a slowdown in global economic growth and revive concerns about financial stability in Greece.
The cost of the February gold futures on the COMEX today rose to 1221.0 dollars per ounce.
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