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Updated from 11:25 a.m. EDT
A bullish jobs report and weak European economic news boosted the dollar and sent gold skidding Wednesday.
February gold contracts plunged $12 to close at $ 635.90 an ounce on the Comex division of the Nymex, and the bullion exchange-traded funds, iShares Comex Gold Trust (IAU Quote) and streetTracks Gold Shares(GLD Quote) followed suit, off about 1.8% recently.
The driving factor in the dollar price move was news that the U.S. economy added 158,000 private sector jobs in November, according to a new estimate from payroll-provider ADP. That compares with gains of 128,000 jobs added in the previous month, and consensus estimates for Friday's official non-farms payroll report at around 100,000. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
Oil *
77.12
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DOWN
154.48
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DOWN
19.14
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DOWN
37.61
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DOWN
0.48
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10 Yr
3.23%
SPDR Gold
115.06
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-1.48%
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-1.72%
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-1.73%
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-1.46%
|
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