Kitco News - Will Nonfarm Payrolls Help Gold, Silver Bulls?

Gold prices ended the U.S. day session solidly higher and hit a 3.5-month high Thursday. ‘The falling dollar is intriguing for the gold trade we are in, the price of crude, and for future potential upward movement of equities pricing,’ said Gary Wagner, editor of the popular newsletter, thegolddorecast.com. Silver prices also scored a 3.5-month high Thursday. Safe-haven and technical buying continue to support the yellow metal amid volatile world stock markets that presently still have a downside bias. April Comex gold was last up $15.30 at $1,156.60 an ounce. March Comex silver was last up $0.126 at $14.86 an ounce. ‘The modest rise in the yield of 10-year U.S. Treasuries would suggest that not all safe havens are created equal. Gold and silver seem to be exerting a strong gravitational pull on those seeking safety,’ Wagner explained in an interview with Kitco News. The marketplace is now awaiting Friday morning’s U.S. employment report for January. The key non-farms payroll number is expected to be up 185,000 following a strong rise of 292,000 in December. A number outside of market expectations is likely to cause higher price volatility. Kitco News, February 4, 2016.