Live London Gold News Wire

NEW in the last 5 minutes www.usagold.com --LIVE NEWS--
Dollar Overbought but Weak Yen, QE3 Tapering May Keep it That Way	19:35 Daily FX
Japanese Yen Meltdown Sets us Up for Good Trades Ahead	19:35 Daily FX
10 to 15 minutes old www.usagold.com --LIVE NEWS--
Australian Dollar Aims Higher as Data Dents Rate Cut Outlook	19:25 Daily FX
Mexico Peso Reaches Strongest Since August 2011 as U.S. Jobs Lag	19:25 Bloomberg - Markets
15 to 30 minutes old www.usagold.com --LIVE NEWS--
Ex-Credit Suisse trader pleads not guilty to MBS price inflation	19:22 Daily Press, Virginia - Business
US Economy Adds Fewest Jobs in Nine Months	19:18 Voice of America - Economy
Small and midsize businesses believe local economy improving, but most won't increase hiring	19:14 The Plain Dealer, Ohio - Business
30 minutes to 1 hour old www.usagold.com --LIVE NEWS--
SPI-based weekly inflation drops	19:08 The Nation - Business
Sentiments remain bullish ahead of earning announcements	19:08 The Nation - Business
Retirement Planner: Letting the cat out of the economic hat	19:07 MercuryNews.com, California - Personal Finance
Philippines' March inflation eases, policy rate seen steady	18:57 Business Times Online - World (Premium)
Yen sinks to multi-year dollar low in Asian trade	18:57 Business Times Online - World (Premium)
After BOJ coup, Abe faces more economy challenges	18:57 Business Times Online - World (Premium)
Bank Failure #5 in 2013: Gold Canyon Bank, Gold Canyon, Arizona	18:52 Calculated Risk (Weblog)
Yen seen dropping further with BOJ action	18:48 Business Times Online - Stock Markets
Is there a silver lining for Tony Fernandes' QPR?	18:48 Business Times Online - Stock Markets
First Scottsdale Bank takes over assets of failed Gold Canyon Bank	18:46 Bizjournals, Arizona - Phoenix Business Journal
1 to 2 hours old www.usagold.com --LIVE NEWS--
Glut of baby boomers a big economic issue for B.C., summit told	18:24 Vancouver Sun
Stocks, dollar fall on weak US jobs data	18:22 Business Recorder, Pakistan
Japan's Stimulus Opens the Yen Floodgates	18:11 The Motley Fool
Treasury pulse	17:53 The Star Online
Texas Supreme Court Rules On Landmark Non-Economic Damages Case	17:52 The Street - Markets
Macroeconomic Policy and Economic Stability - Adair Turner Keynote at INET	17:51 Economist's View (Weblog)
Bullish on Wal-Mart	17:43 The Globe and Mail
2 to 4 hours old www.usagold.com --LIVE NEWS--
Gold Price Jumps: Dead Cat Bounce Or Final Bottom?	17:39 Investors Business Daily - Investing
Department Store Layouts Reflect Changing Economy	17:22 The Chosun Ilbo - Business
Carstens Calls Rate Cut Response to Mexico’s Inflation Progress	17:22 Bloomberg - Markets - Emerging Markets
Platinum Communications Corporation Reports Financial Results for the Six Months Ending February 28, 2013	17:09 Business Wire (Press Release)
Weekly inflation by 0.26 pc	16:56 Pakistan Observer - Business
Latest CapStar hires include Atlanta exec, treasury VP	16:50 Nashville City Paper, Tennessee - Business
INSIGHT: Selected economic, welfare perspectives on recent fare hikes	16:49 The Citizen, Tanzania - Business
Shoot out for your savings – Cash vs Gold	16:46 Stockopedia
Gold rebounds as safe option for investors	16:43 UPI - Quirks
Dollar falls as US jobs data disappoint	16:41 FT.com
Dollar drops after poor US jobs report	16:40 Channel NewsAsia - Business
Jobs Data Spark Gold Surge From 10-Month Low	16:38 Investors Business Daily - Investing
Stock markets, dollar end lower amid big misses in March job creation	16:36 Canada.com
Forex: EUR/USD jumps but the dark clouds remain there; The long & sweet BoJ Game	16:31 FXstreet - Forex News
Euro exit poses high risk option for Cyprus	16:27 The Peninsula - Business
Weak jobs data cast shadow on US economy	16:27 The Peninsula - Business
Irving poised for economic development, even as city manager leaves	16:24 Bizjournals - Dallas Business Journal
Jacob Gold: Don't Leave Your Retirement to Luck, Part Two	16:15 The Huffington Post
Commodity Chart Of The Day: Daily Silver - All Aboard The Silver Express	16:15 SeekingAlpha - Macro View
Look For Rebound In Undervalued Gold/Silver Bullion And Miners	16:15 SeekingAlpha - Macro View
Sri Lanka currency to ease back after holiday	16:11 ArabNews - Economy
Indian rupee gains but sentiment remains cautious	16:11 ArabNews - Economy
In no one we trust: the digital dollar’s rise	16:11 FT.com
End of the US nursery rhyme economy	16:11 FT.com
Matthew Engel: Our fair chancellor resorts to Mockney	16:11 FT.com
Wendell Berry conference focuses on a new economy	16:10 The Courier-Journal, Kentucky

Gold Rebounds on Payrolls Miss

by Peter A. Grant

Apr 05, AM
(from USAGOLD.com) --

Gold rallied strongly on Friday, leaving the low end of the range that has dominated for more than a year well protected. The yellow metal was spurred by a growing realization that the era of super-easy monetary policy is far from over. As I pointed out yesterday, ZIRP and other extraordinary central bank accommodations have been significant drivers of the secular bull market in gold.

Earlier in the week the Bank of Japan announced an unprecedented new quantitative and qualitative easing regime. The BoJ will basically double the monetary base over the next two-years in an effort to achieve its goal of generating 2% inflation within that time frame.

After holding steady on rates, ECB President Mario Draghi took on a decidedly more dovish tenor in his press conference. Draghi expressed concerns about downside risks to growth and pledged that the ECB would remain accommodative as long as was necessary, while closely monitoring the situation. This heightened expectations that an ECB rate hike might be forthcoming sooner rather than later.

This morning, the Bureau of Labor Statistics revealed that U.S. nonfarm payrolls grew a weak 88,000 in March, well below expectations of +195,000. While the jobless rate dropped a tick to 7.6%, this was attributed to another drop in the labor force participation rate to 63.3, a level not seen since 1979. Not exactly how you want to see the unemployment rate lowered.

Former White House economic adviser Austan Goolsbee, commenting on CNBC said of the print, "This is a punch to the gut. This is not a good number." It's unfortunate that that the rebound in gold comes at the expense of a dimmer outlook for employment. However, gold has suffered of late on intensified talk that a phased withdrawal of Fed accommodations was imminent because the economic, employment, stocks and housing market were all looking better. I remind you all once again about the "green shoots" spring of 2009 and the "recovery summer" in 2010.

Fed chairman Bernanke himself was unsuccessful in silencing the "QE's days are limited" crowd, saying quite adamantly last month that the Fed would keep its foot on the monetary gas pedal well into any recovery. This little dose of reality may have succeeded where Bernanke, Yellen and Evans et al failed. However, I don't expect the phased withdrawal advocates to be silent for long.

NEWSLETTER SIGN-UP

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. USAGOLD, 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 does not warrant or guarantee the accuracy, timeliness or completeness of the information found here.

Gold dealers index of gold coin images - popular investments

USAGOLD Bulletin Board

"There is much wisdom between the covers of this book."

Practical guidelines for adding gold to your portfolio from the founder of USAGOLD - forty years in the business.

Want more information?
Click Here

Seven reasons
high-net worth gold
investors choose
USAGOLD

Video Roundtable Series:

Bullish Sentiment Readings for Stocks and Gold Foretelling What's Next?

Precious Metals Trading and Storage Program
Competition for the ETFs
with a delivery option

P.O. Box 460009
Denver, Colorado 80246-0009

1-800-869-5115 (US)
00-800-8720-8720 (EU)

303-399-6759 (Fax)

[email protected]

Office Hours

6:00am - 7:00pm
(U.S. Mountain Time)
Monday - Friday

American Numismatic Association
Member since 1975

Industry Council for Tangible Assets

zero complaints

Friday April 5
website support: [email protected]
Site Map - Privacy - Disclaimer
The USAGOLD logo and stylized gold coin pile are trademarks of Michael J. Kosares.
© 1997-2012 Michael J. Kosares / USAGOLD All Rights Reserved

Daily Gold Market Report

Gold Rebounds on Payrolls Miss