Gold Barely Budges Amid Jobs Report
Gold futures were flat Friday morning as traders weighed jobs data and the Federal Reserve minutes.
The U.S. added a robust 213,000 jobs in June, but unemployment rate was back up to 4% as the school-year ended.
Hourly wages rose 5 cents, or 0.2%, to $26.98 but the yearly rate of pay increases was unchanged at 2.7%.
Yesterday, the Federal Reserve said the economy is humming along but warned about trade issues.
«Negative risks to economy from U.S. trade policy have intensified,» the minutes showed.
Still, «The information reviewed for the June 12-13 meeting indicated that labor market conditions continued to strengthen in recent months, and that real gross domestic product (GDP) appeared to be rising at a solid rate in the first half of the year.»
Gold was down $1 at $1257/oz this morning.