Although the payrolls-data and unemployment-rate report was the item that grabbed the bulk of attention, there was another release at 10:00 today: January factory orders for manufactured goods. That report showed orders rising 3.1%, well over expectations for a 2% rise. The highest-growing category was transporation equipment, which grew 27.3%.
The report buffeted gold shortly before its release, but the metal was running upwards from 8:45 on. After bobbling, it turned upwards at 10:00 and kept rising to just above $1,430. Whatever influence the report had was swamped by crude oil jumping to $104/barrel on greater unrest in Tripoli, Libya. Gold followed suit.
No comments:
Post a Comment