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Metals Rise After Nonfarm Payrolls Hurt Dollar

March 4, 2016 at 20:16 by Vladimir Vyun

Metals, as well as many other commodities, were rallying today as the dollar fell after the release of nonfarm payrolls. While the employment data looked good on the surface, not everything was well. Markets focused on hourly wages that fell for the first time since the end of 2014.

The mixed data fueled speculations that the Federal Reserve is not going to raise interest rates again anytime soon. This weighed on the greenback, which performed poorly against most of its major counterparts. Bounce House Games As metals often trade inversely to the US currency, it was not surprising to see the market of metals react positively to the news.

Futures for delivery of gold in April ticked up 0.48% to $1,264.2 per troy ounce as of 20:10 GMT on COMEX today. May contract for silver gained 2.83% to $15.58 per ounce. Copper advanced 2.45% to $2.2625 per pound.

If you have any questions and comments on the commodities today, use the form below to reply.

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