GOLD FUTURES RISES AS U.S. JOBS FORECAST LOWER THAN EXPECTED.

GOLD FUTURES RISES AS U.S. JOBS FORECAST LOWER THAN EXPECTED.

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Gold Bullion As Central Banks Buy More Debt
Prices of gold futures rose after a report showed that Americans employers added fewer employees than predicted last month, boosting demand for the precious metal as a shelter.
Companies added 208,000 workers last month, figures from ADP Research Institute showed. That were losing the median forecast of 222,000 in a Bloomberg survey of economists. A whipsaw in oil futures is fueling major price movements for gold in nearly nine months. Trade in Shanghai in the metal has headed the last year’s record.
US gold futures for February delivery rose 0.9 percent to $ 1,210 an ounce on the Comex in New York. The volatility 60 days of the metal ascended up on highest since March.
MCX gold with 1 per cent rise, is trading above Rs 26,490.
Currency market today is not getting any particular signal. Comex price of gold has moved across $1,200. The market’s eye is on for non-farm payroll data released this week. The data will allow a clarity on US Fed interest rates.
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