Gold Prices Pare Losses as Stocks Come Off Highs
NEW YORK (
The Bureau of Labor Statistics said Friday that nonfarm payrolls for February climbed to 236,000 from the prior month's downwardly revised 119,000. Consensus among economists had been expecting payrolls to add 160,000 jobs. Additionally, the unemployment rate -- an indicator the Federal Reserve is monitoring as it pertains to a policy of low interest rates -- shifted down to 7.7% from a previous read of 7.9%.
Gold for April delivery was coming off session lows following the favorable jobs report as prices were decreasing just $1.10 to $1,574 an ounce at the Comex division of the New York Mercantile Exchange. The
The spot price was losing 90 cents, according to Kitco's gold index."It was when the number came out that we saw this
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