Will the U.S. Jobs Report Derail the Gold Rally?
The U.S. Bureau of Labor Statistics recently released weekly data on the condition of the U.S. labor market that showed the unemployment picture is better than expected. This parallels a recent rally in gold prices that has been driven by demand for physical gold. The rally represents a potential structural shift in the gold market, explaining why miners like Goldcorp , Barrick Gold , and Newmont Mining outperformed the SPDR Gold Trust for the week after the two-day plunge in gold prices (see chart below) and roughly in line since that same plunge.
In the video below, Fool.com contributor Doug Ehrman discusses the potential impact of the U.S. jobs report on the gold market and what investors can expect from here.
Goldcorp is one of the leading players in the gold mining market. For the last several years, investors have been the beneficiaries of several successful acquisitions and strong organic growth. Goldcorp's low-cost production of one of the most sought-after metals in the world continues to make this stock an attractive choice for long-term investors. To learn everything you need to know about this mining specialist, you're invited to check out The Motley Fool's premium research report on the company, which comes with a full year of ongoing updates and analysis to keep you informed as key news breaks. Click here now to claim your copy today.
The article Will the U.S. Jobs Report Derail the Gold Rally? originally appeared on Fool.com.Fool contributor Doug Ehrman has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.