Gold price up after mildly upbeat U.S. jobs data gold silver USjobdata
Welcome to Kitco News' 2023 Outlook Series. Uncertainty continues to dominate financial markets as central bank monetary policies push the global economy into a recession to cool down inflation. Stay tuned to Kitco News to learn from the experts on how to navigate turbulent financial markets in 2023.
What is arguably the most important U.S. data point of the month saw this morning's employment situation report for December from the Labor Department post a non-farm payrolls gain of 223,000. The marketplace expected a gain of 200,000, following a rise of 263,000 in the November report. Analyst Craig Erlam of OANDA said earlier today, before the jobs report's release, in an email dispatch:"The November report contained everything the Federal Reserve did not want to see: strong jobs growth, with upward revisions to prior releases, much higher wages than anticipated and weaker participation. If that's a blip in the trend, it's no big deal. But a second consecutive month would deliver a sledgehammer to hopes of a lower terminal rate.
In overnight news, the Euro zone December consumer price index rose 9.2%, year-on-year, compared to a rise of 10.1% in November, and was a bit lower than the consensus forecast of up 9.7%. The core CPI came in up 5.2% in December.
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