Kitco News Gold Survey: Gold To Keep On Shining
Allen Sykora -(Kitco News) - Participants in the weekly Kitco News gold survey look for the precious metal to build on its gains next week, citing the soft U.S. jobs report released Friday and technical-chart momentum.
Comex February gold topped the $1,300-an-ounce level on the final day of 2017 and has remained above this so far in 2018. The metal, helped by a soft U.S. dollar much of this week, temporarily bounced from overnight weakness Friday when the government reported that the U.S. economy added 148,000 jobs in December, down from the average of 232,000 over the previous two months. Still, observers describe the report as constructive for gold overall since the data should mean the Fed does not accelerate the anticipated pace of monetary tightening.