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.
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.
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