Gold price bounces around on jobs, inflation data
A drop in jobless claims showing the downtrend in US unemployment remains intact pushed gold as low as $1,307 before inflation figures and weak manufacturing data prompted a recovery.
A drop in jobless claims showing the downtrend in US unemployment remains intact pushed gold as low as $1,307 before inflation figures and weak manufacturing data prompted a recovery.
The company said the move isn't an indication that the mine will close.
The yellow metal has climbed nearly 1.5% this week.
Despite the miner returned to profitability last year, it is now facing a strike at its processing plants.
Profile of a female delivery driver working in the Bakken oil fields
Gold jump up a mere 1% to $1,239 an ounce, building on earlier gains.
Agriculture, manufacturing and utilities are all expected to see declines.
Employment in the mining sector will rise by 7.4% over the next four years, with the oil and gas sector providing the largest number of new jobs
Resource industry employment expected to grow 11% in the next five years.
Gold hit a five-month low in the wake of the jobs report, but recovered quickly climbing 4.8% to 1,230.
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