Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Commodities  >  Silver       XAGUSD

SILVER

My previous session
Most popular
SummaryQuotesChartsNews 
News SummaryAll news

Metals Prices Climb on Prospect of Slower Interest-Rate Rises

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/07/2018 | 10:16am EST

By Ira Iosebashvili

Gold prices rose Friday, after a weaker-than-expected U.S. employment number bolstered the case for the Federal Reserve to slow the tempo of its interest rate increases.

Gold for February delivery was recently up 0.4% at $1,249.60 a troy ounce on the Comex division of the New York Mercantile Exchange.

U.S. nonfarm payrolls increased a seasonally adjusted 155,000 in November, the Labor Department said Friday. Economists surveyed by The Wall Street Journal had expected 198,000 new jobs. The unemployment rate held steady at 3.7% last month, matching the lowest rate since December 1969. Year-over-year wage growth matched the prior month's 3.1% pace as the best rate since 2009.

Some investors believe the narrow miss in the November jobs data could force the Fed to raise rates at a slower pace next year to avoid stifling economic growth. Expectations that rates will rise at a slower clip tend to boost gold, which struggles to compete with yield-bearing investments when borrowing costs move higher.

"This report leans slightly in favor of the U.S. monetary policy doves who would prefer the Federal Reserve tighten money policy at a slower pace," analysts at Kitco Metals said in a note to clients.

Turbulent stock and bond markets have in recent months boosted gold, a popular destination for worried investors. Prices are up 3.5% over the last three months.

In base metals, copper for March delivery rose 0.5% to $2.7565 a pound.

Write to David Hodari at David.Hodari@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
GOLD 0.03% 1326.245 Delayed Quote.4.56%
PLATINUM 0.54% 828.98 Delayed Quote.4.44%
SILVER 0.32% 15.895 Delayed Quote.4.05%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on SILVER
02/21Gold Falls With Treasury Yields Climbing
DJ
02/20Glencore, Once King Coal, Bows to Investor Pressure Over Climate -- 3rd Updat..
DJ
02/20Glencore, Once King Coal, Bows to Investor Pressure Over Climate -- 3rd Updat..
DJ
02/20Glencore, Once King Coal, Bows to Investor Pressure Over Climate -- 2nd Updat..
DJ
02/20Rio Tinto Reviews Global Standards for Tailings Facilities Following Brazil D..
DJ
02/20Gold Extends Climb Despite Stronger Dollar
DJ
02/20Glencore Misses Earnings Forecast, But Buyback Bigger Than Expected -- Earnin..
DJ
02/20Glencore Begins Turn Away from Coal, to Re-balance Portfolio
DJ
02/20Glencore Net Profit Falls 41%; Launches New $2 Billion Buyback
DJ
02/19Gold Surges on Elevated Geopolitical Uncertainty -- Update
DJ
More news
Chart SILVER
Duration : Period :
Silver Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SILVER
Short TermMid-TermLong Term
TrendsBullishBullishNeutral