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Gold prices remain positive as U.S. job openings decline to 10.33 million

Neils Christensen

Kitco News

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(Kitco News) - Cracks continue to appear in the U.S. labor market as the number of job openings continues to decline but slightly less than expected.

Job openings, a measure of labor demand, dropped to to 10.33 million on the last day of November, the Labor Department said in its monthly Job Openings and Labor Turnover Survey, or JOLTS report, on Wednesday.

The data beat expectations as economists were looking for a decline to 10.24 million job openings.

The latest labor market data continues to have little impact on the gold market as prices continue to hold on to slight gains. February gold futures last traded at $1,767.40 an ounce, up 0.22% on the day.

The latest JOLTS report comes after private sector payrolls processor ADP reported weaker-than-expected jobgrowth in November. ADP said that 127,000 jobs were created last month; economists were expected to see gains of around 200,000.

By Neils Christensen

For Kitco News

Contact nchristensen@kitco.com
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