New York, NY (PRWEB) March 08, 2013
The gold price closed Thursday with a gain of 20 cents in anticipation of the US employment report, but when the data was released the next day, gold investors received quite the shock. According to Marketwatch and the official Labor Department report, an impressive 236,000 jobs were created in February, a month that saw the fastest pace of hiring since November. The unemployment rate dropped down to 7.7% from 7.9%. The data painted a positive picture for the future of the US economy, which drives down the price of gold, an asset that thrives during times of high unemployment and other economic uncertainties. Spot gold dropped by more than one percent in response, and gold futures for April delivery fell $11.50.
Arthur McGuire, Vice President of Gold Price, says, “The unemployment data could be seen as bearish for gold, but I doubt it will hold for long. The actual employment situation in the US is not as rosy as Marketwatch would have us believe. Those statistics are manipulated by excluding large portions of the population from the demographics that are ‘employable.’ A look at the non-adjusted numbers will show you that the US economy lost almost a million jobs in February. We are advising investors to not be deceived by what the media would have us believe is happening in the job market. The truth is that no jobs are being created. It might be unfortunate that unemployment is bullish for gold, but that’s the reality. Now, more than ever, it’s important to invest in gold to profit and protect wealth, as the mainstream media is not truthfully reporting what is happening to the US economy.”
Gold Price (GoldPrice.net) is a leading precious metals advisor since 1992 with headquarters in New York, California, Texas, Utah, New Mexico and Puerto Rico. Gold Price is also a direct gold and silver dealer, specializing in purchasing, selling and trading physical gold and silver as well as modern bullion bars/coins and certified rare coins. They offer investors a free award-winning gold starter’s kit by visiting http://www.goldprice.net or calling 1-800-767-1423.