menu-control
The Jerusalem Post
The Jerusalem Post: Business and Innovation

Gold moves higher following weak U.S. jobs report

 
Gold moves higher following weak U.S. jobs report (photo credit: SHUTTERSTOCK)
Gold moves higher following weak U.S. jobs report
(photo credit: SHUTTERSTOCK)

Just 12,000 jobs added in October, the lowest on record since December 2020

Gold prices rose about $10 an ounce to $2,760 following a weak U.S. jobs report Friday morning that reported a nonfarm payroll increase of 12,000 for October on a Dow Jones estimate of 100,000.

CNBC reported the jobs gain was the smallest since December 2020.

Unemployment remained unchanged at 4.1%.

 Gold prices moved higher immediately after the release of U.S. jobs data on Friday. (Source: TradingView) (credit: PR)
Gold prices moved higher immediately after the release of U.S. jobs data on Friday. (Source: TradingView) (credit: PR)

The Bureau of Labor and Statistics said in its report that the Boeing strike resulted in 44,000 jobs in the manufacturing sector being lost. The report also mentioned hurricanes Helene and Milton, but said it would be hard to quantify the net effect of the storms on the jobs report.

Featured Gold & Silver Investment Companies (Ad)

Augusta Precious Metals(Full Review)

Fees:

$0 (10 Years)

Minimum:

$50,000

"Best Overall" by Money Magazine, Award-Winning for 6 Years, Thousands of 5-Star Rankings

Expand DetailsRenowned for its exceptional customer service and commitment to transparency, Augusta Precious Metals has garnered numerous accolades, including "Best Overall" from Money magazine and "Most Transparent" from Investopedia. The company's dedication to educating and supporting its clients has earned it top ratings from organizations such as A+ from BBB and AAA from BCA.
Fees:

Vary

Minimum:

$25,000

Industry leader with over $2 Billion in gold and silver. Top rated precious metals company with buy back guarantee

Expand DetailsFrom precious metals iras to direct purchases of gold and silver, goldco have helped thousands of americans place over $2 billion in gold and silver. Top-rated precious metals company rated A+ by the better business bureau rated triple a by business consumer alliance earned over 6,000+ 5-star customer ratings Money.Com 2024 best customer service 2024 inc. 5000 regionals: pacific ranked #17 2024 gold stevie award, fastest growing company inc. 5000 award recipient, 8+ years

American Hartford Gold (Full Review)

Fees:

Vary

Minimum:

$10,000

American Hartford Gold, ranked #1 Gold Company on Inc. 5000, boasts thousands of A+ BBB ratings and 5-star reviews, endorsed by Bill O'Reilly and Rick Harrison..

Expand DetailsWith over $2 billion in precious metals sold, American Hartford Gold helps individuals and families diversify and protect their wealth. Their expert team provides investors with the latest market insights and a historical perspective, ensuring informed decisions. Trusted by public figures and praised for exceptional customer service, the company offers competitive pricing on top-tier gold and silver coins, backed by a 100% customer satisfaction guarantee

This article is for informational purposes only. The opinions and analysis herein are those of the author and are not financial advice. The Jerusalem Post (JPost.com) does not endorse or recommend any investments based on this information. Investors should consider their financial situation, investment goals, and risk tolerance before making any decisions. Consulting a qualified financial advisor is recommended. JPost.com is not liable for any investment losses from using this information. The information provided is for educational purposes only and should not be considered as trading or investment advice.

×
Email:
×
Email: