The world's largest economy continues on suffering from the ongoing deterioration of the labor market that is constantly delaying the overall strong full recovery of the country from the ongoing downside pressures of the crisis, knowing that the FOMC minutes meeting that was held on December 15 of 2009 had in fact its members stating out that that the recovery path is gaining momentum throughout overall economical activities, nevertheless they agreed of course on the fact that the jobless rate remained quite crucial and elevated.
In fact, the U.S country posted further data belonging to the labor market today ahead of tomorrow's crucial Jobs report, having so far the US Initial Jobless Claims for January 2 rose faintly to 434 thousand, while that the Continuing Claims for December 26 plunged to 4802 thousand, indicating clearly that the slowdown in the job losses across the country continues on taking place on an extreme slow pace.
However, the Green Benjamin is gaining momentum throughout the currencies market today on strong technical movements and slender fears spread ahead of tomorrows jobs report that boosted up faintly the appeal of the dollar as a refuge, having in fact the dollar index, which tracks the strength of the dollar in front of a basket of currencies, inclining to trade so around 77.91 recording a high of 78.06 and a low of 77.26.As a result, the yellow precious metal prices are plunging today from their three-week high due to the today's strengthening of its green opponent, the dollar, knowing of course that these two have an inverse relation, having therefore gold trading at $1130.25 an ounce recording a high of $1138.92 an ounce and a low of $1128.35 an ounce, plus the commodity indices REUTERS/JEFFERIES CRB INDEX shed 0.87 points to 292.88.
Furthermore, the silver prices are narrow trading at $18.17 recording a high of $18.34 and a low of $18.02 and the platinum prices plunged to trade at $1547.90 recording a high of $1554.90 and a low of $1530.90, while the palladium are faintly inclining to trade at $424.50 recording a high of $432.50 and a low of $420.50.
Additionally, gold prices were set in the AM fixing at $1130.75 an ounce and at $1130.25 in the PM fixing and silver prices were set at $18.09 in the AM fixing, while platinum prices were set at $1542.00 in the AM fixing and $1548.00 in the PM fixing and the Palladium prices are set in the AM fixing at $423.00 and at $426.00 in the PM fixing.
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