Wall Street joins Main Street in the bear cave for next week as gold’s price momentum wanes
The latest Kitco News Weekly Gold Survey has experts as pessimistic as they’ve been in some time about gold’s near-term prospects, while most retail traders still see gold prices falling or chopping sideways.
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Gold prices jump higher after U.S. economy created 175K jobs in April, missing expectations
(Kitco News) -The gold market has found a jolt of bullish energy as the U.S. labor market lost significant momentum, creating fewer jobs than expected in April.
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Dollar drops as employers add fewer jobs than expected in April
NEW YORK, May 3 (Reuters) - The dollar fell to a three-week low against the yen on Friday after data showed U.S. jobs growth slowed more than expected in April and annual wage gains cooled, boosting bets that the Federal Reserve will cut rates twice this year.Employers added 175,000 jobs last month, below economists' expectations for a 243,000 increase. Wages increased 3.9% in the 12 months through April, below expectations for a 4.0% gain after rising 4.1% in March.The unemployment rate rose to 3.9% from 3.8%, remaining below 4% for the 27th straight month.