A less-than-ideal job market could drive gold prices to rise repeatedly.
The American Petroleum Institute (API) released its weekly crude oil inventory figures, showing an increase of 1.019 million barrels, exceeding market expectations of a 1.14 million barrel decrease. Gasoline inventories also rose, increasing by 2.991 million barrels, exceeding market expectations of a 541,000 barrel decrease. These strong figures should alleviate investor concerns about a significant interest rate hike by the Federal Reserve, providing important support for gold prices around $4,127 in the short term. If the September ADP private sector… … »A less-than-ideal job market could drive gold prices to rise repeatedly.