Make Kitco Your Homepage

Gold Prices Holding Gains As Private Sector Employment Disappoints Expectations

Kitco News

(Kitco News) - Gold prices are holding onto modest gains as the U.S. labor market weakened in last month with fewer private sector jobs created, according to the latest report from the private sector payroll processor ADP.

A total of 183,000 jobs were created in February, missing expectations. According to consensus forecasts, economists were expecting gains of 190,000 jobs.

Ahead of the report, gold was seeing modest gains in reaction to rising risk-off sentiment in equity markets and some weakness in the U.S. dollar. The yellow metal is seeing little reaction to the data. April gold futures last traded at $1,288.60 an ounce, up 0.30% on the day.

      ADP National Employment Report: Private Sector Employment Increased by 183,000 Jobs in February
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.