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Gold Continues to Rise After US Unemployment Claims

Gold advanced before a report today that may show U.S. jobless claims increased, potentially delaying moves by the Federal Reserve to slow the pace of bond purchases. Silver and platinum climbed.
Gold tumbled 23 percent this year amid speculation the Fed will wind down its quantitative-easing program. Fed Bank of Cleveland President Sandra Pianalto said yesterday there has been “meaningful improvement” in the labor market and tapering may be warranted if it continues to strengthen. Jobless claims rose to 335,000 last week, after falling to a more than five-year low in the previous week, according to the median of estimates compiled by Bloomberg.

via Bloomberg [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
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 has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. 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