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[video] Gold Hits Highest Level in a Month, Searches for Direction

Stocks in this article: GLDGG

The video this transcript is based on appeared on January 14.

New York ( TheStreet) -- Gold (GLD) is searching for direction in midday trading after touching its highest level in a month. Gold has been on the rise as equities have fallen following Friday's disappointing non-farm payrolls report that showed U.S. employers added jobs at much slower pace than expected in December.

VIDEO TRANSCRIPT:

Gold is searching for direction in midday trading after touching its highest level in a month.

Gold has been on the rise as equities have fallen following Friday's disappointing non-farm payrolls report that showed U.S. employers added jobs at much slower pace than expected in December. The precious metal hit its highest level since December 12 at $1,255 an ounce.  At last check, spot gold was slipping 0.2% to $1,251 an ounce while U.S. gold futures for February delivery were gaining 0.2% to $1,253 an ounce.

Meanwhile, Goldcorp (GG) announced that it has begun its formal offer to acquire Osisko Mining for $2.4 billion.  The move will give the company control of Osisko's Malartic gold mine in Quebec.  At last check, shares of Goldcorp were falling about 2.5% to $22.48.

In New York, I'm Brittany Umar for TheStreet.

Written by Brittany Umar in New York.

Brittany joined TheStreet.com TV in November 2006 after completing a degree in Journalism and Media Studies at Rutgers College. Previously, Brittany interned at the local ABC affiliate in New York City WABC-TV 7 where she helped research and produce On Your Side, a popular consumer advocacy segment.

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