Gold feel by 2% so far based on 2 report.
- Unemployment went from 10.2% to 10%
- The fed announced that they would raise the interest rate sooner than expected.
Here is the report from CNN.
Gold prices extended their decline for a second straight session Monday as the dollar continued to rise.
Gold for February delivery slipped $26, or 2.22%, to $1,143.50 a troy ounce early Monday. Gold prices fell sharply Friday after after a much better-than-expected jobs reportfrom the government showed employers trimming a mere 11,000 jobs in November as the unemployment rate ticked down to 10% from 10.2% in the prior month.
“We’ve had a substantial turn in the dollar,” said Mark Hansen, director of trading at CPM Group. “People are taking a second look at their commodity exposure, especially precious metals, which have been investor favorites in the past couple of month.”
