Gold Price Jumps as NFP Jobs Miss Forecast by 73%, Real Rates Fall

Friday, 5/07/2021 14:26
The GOLD PRICE leapt lunchtime Friday in London, jumping to 12-week highs above $1840 per ounce after new US data said the world's biggest economy added barely a quarter as many jobs in April as analysts expected.
 
Silver also jumped, touching new 10-week highs near $27.70 before retreating by 30 cents as the Dollar gold price eased back below $1830, cutting its weekly rise to 3.3%.
 
Wednesday's private-sector
estimate from ADP Payrolls had said that the US added 742,000 jobs last month, the 4th largest number on its records.
 
But total non-farm payrolls rose by only 266,000 the
Bureau of Labor Statistics said Friday, leaving the jobless rate at 6.1% and missing Wall Street's consensus forecast by 73%.

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