Gold Falls on Jobs Data

Gold Falls on Jobs Data (CNBC)

Gold fell today, as data showing that a decline in jobless claims led investors to worry about the oncoming onset of stimulus tapering. “Gold would thrive from uncertainty about the U.S. debt ceiling talks and the Fed tapering,” Societe Generale analyst Robin Bhar said. “But data showing an improving U.S. labor market earlier today may be the reason for some profit-taking, and if the U.S. numbers continue to improve we could still expect the tapering in December.”