Gold modestly rebounds on Jobs report this morning that shows lackluster growth. The bounce back follows biggest one-day drop in dollar terms in almost three years on Thursday.
The Labor Department’s just-released U.S. employment data for August showed the “non-farm” payrolls rose 130,000, which significantly misses the market forecast of 150,000. This could indicate a cooling economy which is music to the ears of monetary policy doves, who are looking for a rate cut when the FOMC meets in less than two weeks. Continue reading →