Gold Climbs Ahead of US NFP Data; Job Losses May Fuel Breakout

From dailyfx.com

Spot gold (XAU/USD) jumped back above the $1,600/oz price level on Thursday in an extension of gains recorded during the prior trading session.The 1.5% spike in gold was driven largely by a terrifying rise in furloughed and laid off workers reported in back-to-back weeks of record-breaking jobless claims. Latest jobless claims data sends an ominous message ahead of the upcoming NFP report release due Friday, April 03 at 12:30 GMT. On that note, if the unemployment rate or net change in nonfarm payrolls materially miss consensus estimates of -100K and 3.8% respectively, the price of gold might springboard toward ... (full story)