Gold Slips Below Unchanged As U.S. Dollar Index Rallies

(Kitco News) - Gold prices have quickly lost modest gains that occurred in theaftermath of the U.S. jobs report. The U.S. dollar index has pushed to solidlyhigher levels on the day. It appears that traders read the U.S. jobs report asinitially downbeat, as the non-farm payrolls rise of 164,000 in April did notmeet expectations for a gain of 195,000. However, the overall U.S. unemployment rate fell to an 18-year low of 3.9% inApril. Some analysts are reckoning the weaker-than-expected April non-farm jobsnumber was mostly due to cold and wet (snowy) weather over much of the U.S.that delayed construction projects. June gold was last down $1.40 at $1,311.30.

By Jim Wyckoff

For Kitco News

Follow @jimwyckoffjwyckoff@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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