Gold price off its highs but positive following strong in U.S. nonfarm payrolls

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( Kitco News ) – Gold prices are off their six-week highs but still holding on to modest gains after the release of strong labor market data as the U.S. economy created more jobs than expected in October.

Friday, the Bureau of Labor Statistics said 638,000 jobs were created in October, economists were expecting to see job gains of around 595,000.

“These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. In October, notable job gains occurred in leisure and hospitality, professional and business services, retail trade, and construction. Employment in government declined,” the report said.At the same time the unemployment […]

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