Gold Rises After NFP Report Highest Lowest Labor Participation in Years

Gold futures pared declines as the U.S. economy added fewer jobs in June than forecast, reflecting a more moderate pace of growth.

The addition of 223,000 jobs followed a 254,000 increase in the prior month that was less than previously estimated, a Labor Department report showed Thursday in Washington.

Gold futures for August delivery fell 0.7 percent to $1,161.10 an ounce at 8:32 a.m. on the Comex in New York. Gold capped a fourth straight quarterly decline on Tuesday, the longest slump since June 1997, amid concern the Federal Reserve is moving closer to raising interest rates for the first time in nine years.

via Bloomberg

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza