Otmane El Rhazi from
The Bullion Desk.
- Better-than-expected US jobs data triggered a sell-off in gold in Friday afternoon London trading, with the price breaking below key support at $1,200.
- The US added 321,000 new non-farm jobs in November, 90,000 more than the forecast 231,000, the highest gain since January 2012 and up from the previous month’s 243,000. Average hourly earnings were up 0.4 percent, better than the expected 0.2 percent.
- The dollar has already climbed this morning after Germany halved its 2015 growth outlook to one percent from two percent while downgrading 2014 growth to 1.4 percent from 1.9 percent in June.
- In the other metals, silver was down 17 cents at $16.24/16.29 per ounce and platinum was down $5 at $1,222/1,232 while palladium was $7 higher at $798/803.
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