Lori Gilmore
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Gold is trying to recover

Yesterday gold futures showed a significant decline after ECB meeting although today they shed early losses to gain about $10 after a disappointing U.S. jobs report pushed off expectations of when the Federal Reserve could start reducing its extraordinary stimulus.

Gold for December delivery was recently up $11, or 0.8%, at $1,384.20 an ounce on the Comex division of the New York Mercantile Exchange.

The Commerce Department said the U.S. added 169,000 new jobs in August. That was slightly less than the 173,000 jobs forecast in a MarketWatch economist poll. More unsettling, however, was the revision to estimated June and July jobs gains, which were reduced by a combined 74,000. 

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