(PRWEB UK) 1 February 2013
Gold is set for a rise in gold prices, as investors await US employment data. A Reuters survey showed that nonfarm payrolls are expected to have risen to 160,000 from December’s 155,000 job gain.
Gold was around $1,661.86 an ounce on Friday morning, and was on course for a weekly rise of 0.2%, putting it on its fourth week of gains.
The News follows the US Federal Reserve announcing that growth has paused in recent months and official figures showing that output fell in the final quarter of the year. It pledged to continue pumping £54 billion of emergency funds into the US economy every month in a bid to boost growth and jobs.
A spokesperson from Physical Gold said:
“With disappointing economic data and the continuation of monetary easing in the US and other countries, investors are looking for a way to hedge against inflation, which gold investment offers. Gold investment is likely to remain a popular choice as the global economy attempts to recover.”
Physical Gold Ltd is a leading UK gold dealer, helping investors diversify their portfolios with innovative investment solutions. Renowned for their ground breaking products such as the Sipp gold and Gold Accumulation Account, the firm specialise in providing customers with tailored assistance in sourcing the best gold for their personal requirements. Based in London, the team are BNTA accredited and have an unrivaled knowledge of the gold market as well as an exceptional understanding of the general financial markets.