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Commodities Briefing - Categorized | Bullion/Gold, Market Moves more

Momentum in bullion ‘unlikely until new year’

Posted on 10 December 2012

According to several sources the consensus forecast among analysts ahead of the report was for 93,000 jobs added in November, with the official unemployment rate expected to hold steady at 7.9%. “US payroll data will be the main number focus today but there’s probably two reasons why we might expect less reaction than normal,” says Standard Bank analyst Steve Barrow.
“The first is that the markets are clearly fixated by the fiscal cliff and it is doubtful that any data is going to have a significant impact until the cliff is sorted. Secondly, economic growth this quarter will be written off due to the impact of [Hurricane] Sandy.”……………………………………….Full Article: Source

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VRS - who has written 34604 posts on Opalesque Commodities Briefing.


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