The Market Gage – Jobs Report Boosts Precious Metals
Markets were quiet overnight as all awaited the first jobs report of 2014 this morning and the wait brought us quite a surprise. Following stronger than expected ADP and ISM reports earlier in the week, many economists had raised their expectations to over 200K new non-farm jobs being created in December. The figure came in at just 74K which is the lowest figure in almost three years.
The unemployment rate did fall to 6.70 percent, but this is likely the result of many unemployed giving up on finding a new job.
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