Comex Gold Soars on Fresh Safe-Haven Buying, Panic Short Covering
Friday June 1, 2012 09:39 AM
Comex gold futures prices are trading sharply higher and have soared to a fresh three-week high in the aftermath of a much-weaker-than-expected U.S. jobs report that has quickly put U.S. quantitative easing of monetary policy back on the table. August gold futures have pushed above what was stiff psychological resistance at the $1,600.00 level. U.S. non-farm payrolls rose by just 69,000 in May, which is much less than the 150,000 rise expected by the market place. U.S. stock indexes slumped, U.S. Treasury bond and note futures prices soared and the U.S. dollar index vacillated but did back down in the...