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Asian Currencies Rise on Fund Inflows, Manufacturing... 17:50
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1 to 2 hours old
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Bullish on Inmet Mining 17:33
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FX Concepts’ Taylor Says Easy Fed Policy to Weigh on Dollar 17:13
Business Week - Daily Briefing
Small business owners find gold in daily deal websites, but at a cost 17:13
Ocala Star Banner, Florida - Health
Warm winter creates winners and losers in U.S. economy 17:12
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Bernanke defends low rate policy for weak economy 17:12
Reuters - Economy
Economy kicking into gear as jobless rate falls 17:06
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Colombia cenbank restarts dollar buying program 17:03
Reuters - Financial Services & Real Estate
Economists warn higher wages will give way to sharp rise in inflation 16:57
The Daily Star, Lebanon
Jobs Don't Matter: Inflation Expectations Suggest Higher Highs To Come 16:56
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Bernanke says he won’t tolerate inflation to boost employment 16:52
The Daily Star, Lebanon
Brown & Brown breaks the $1bn revenue barrier in 2011 16:49
The Insurance Insider
2 to 4 hours old
www.usagold.com --LIVE NEWS--
US jobs data boost Euro stocks, dollar 16:43
Gulf Times
UK recession risk eases as service sector grows fast 16:43
Gulf Times
Contrarian Retail Plays For An Expanding Economy 16:41
Forbes - Home US
Jobs data spank gold, silver 16:39
MarketWatch
NYMEX-Crude up, snaps 5-day losing streak, on jobs, Iran 16:11
Reuters - Economy
Final Glance: Silver companies 16:07
Yahoo! US - Business
Supreme Court Building Covered in Giant Dollar Signs 16:06
The Big Picture (Weblog)
FOREX-Dollar up vs yen on US jobs data, holds steady vs euro 16:01
Reuters - Economy
All roads lead to inflation 15:58
MSN Money - Finance Tips
Colombia Stocks Rise For Fifth Session; Peso At 5-Month High 15:55
Fox Business - Industries
Dow Rallies to Pre-Recession Levels: McDonald's Leads Since May 2008 15:40
CNBC.com - Investing
Once booming, Nevada's economy has tanked since last time presidential race visited 15:34
The Washington Post
CORRECT: Mexico Stocks, Peso Strengthen On US Jobs Report 15:30
The Wall Street Journal
Dollar and Precious Metals at a Glance 15:27
ABCNews.com - Off the Wires
Schizophrenia pill Olanzapine, weak rupee drive Dr Reddy's Lab topline to Rs 2,770 crore 15:22
The Economic Times
Gold prices up in uncertain times 15:21
Christian Science Monitor - Work & Money
Canada wins double gold in ski cross 15:20
Ottawa Citizen
Obama: Economic recovery speeding up 15:16
Yahoo! US - Business Top Stories
GLOBAL MARKETS-U.S. data boosts equities, dollar 15:15
Reuters.co.uk - Regulatory News
Gold slumps as Fed help less urgent 15:09
The Age
Brazil Stocks Close Higher Amid Brighter Economic Outlook 15:09
The Wall Street Journal
Analysis: Obama, GOP work to frame what matters: how economy is now, or where it's headed? 15:02
The Washington Post
Mexican Peso, Boosted By US Jobs Data, Rose 1.9% This Week 14:49
The Wall Street Journal - Europe Edition

Older Gold News, Archives . . .

Morning Snapshot

by Peter A. Grant

February 03, AM
(from USAGOLD.com) --

Gold retreated into the range after establishing a new 11-week high at 1763.15. The retreat is likely associated with profit taking after a nice weekly gain, and the diminished appeal of gold as a safe-haven after better than expected headline nonfarm payrolls numbers.

The rise in payrolls was better than expected at +243k and the unemployment rate dropped to 8.3%. However, looking behind the numbers we see a rather startling 1,252,000 surge in "Persons not in the labor force". The participation rate actually fell by 0.3%, but showed steady in the report at 63.7% (a 30-year low) due to a change in how the survey is conducted. Additionally, there was a record surge of 699k in the number of part-time workers, while full-time jobs rose by just 80k. Seasonal adjustments seem to be to blame for much of the disparity. While the stock market ran with the positive headline numbers initially, optimism has been tempered as analysts and investors drill a little deeper into the data.

US services ISM for January came in above market expectations, but December factory orders disappointed.

So here it is another Friday and still there is no deal with private holders of Greek bonds. Two weeks ago a deal was "imminent." Last week a deal was "hours away." I guess that Greek official was talking 168 hours or more.

There also continue to be a broadening realization that the €130 bln second bailout deal that was agreed to back in October — part of which was the non-existent PSI deal — simply isn't going to be enough. The latest estimates put Greece's needs closer to €150 bln.

• US factory orders +1.1% in Dec, below market expectations of 1.5%, vs 2.2% in Nov.
• US ISM services index jumped to 56.8 in Jan, well above market expectations of 53.2, vs 53.0 in Dec.
• US nonfarm payrolls +243k in Jan, well above market expectations of +155k; unemployment rate dips to 8.3%.
• Canada employment +2.3k in Jan, well below market expectations of +25.0k; unemployment rate rose to 7.6%.
• Eurozone retail sales -0.4% in Dec, well below market expectations of +0.3%, vs postive revised -0.4% in Nov; -1.6% y/y.
• Eurozone Markit PMI - Composite confirmed at 50.4 in Jan; services ticked lower to 50.4, vs 50.5 preliminary read.
• UK CIPS Services PMI rose to 56.0 in Jan, above expectations of 54.2, vs 54.0 in Dec.

Peter Grant is USAGOLD's resident economist and a well-known analyst globally in the forex and precious metals markets.

Opinions expressed in commentary on the USAGOLD.com website do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell any precious metals product, nor should they be viewed in any way as investment advice or advice to buy, sell or hold. Centennial Precious Metals, Inc. recommends the purchase of physical precious metals for asset preservation purposes, not speculation. Utilization of these opinions for speculative purposes is neither suggested nor advised. Commentary is strictly for educational purposes, and as such USAGOLD - Centennial Precious Metals does not warrant or guarantee the accuracy, timeliness or completeness of the information found here.

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