Gold did not get much of bounce from the favorable job numbers, noted mining audiences manager Michael McCrae.
On Friday McCrae recorded Kitco Roundtable with Kitco correspondent Paul Harris.
U.S. nonfarm payrolls rose by 187,000 last month, according to the Bureau of Labor Statistics, which released the numbers on Friday. The monthly figure was below the market consensus estimates of 205,000.
The gold market didn't react much. December gold futures last traded at $1,970 an ounce, roughly unchanged on the day.
Companies are releasing their second quarter financial results. In its outlook, uranium giant Cameco raised its revenue forecast due to momentum in the nuclear sector and supply risk caused by geopolitical developments.
Albemarle, a leading global producer of specialty chemicals, reported net sales of $2.4 billion in Q2. In its outlook the lithium miner said net sales are expected to increase 40% to 55% over the prior year, primarily driven by the continued global shift to electric vehicles. The year-over-year increase in Adjusted EBITDA is expected to be in the range of 10% to 25%, primarily due to higher energy storage pricing.
