2021 has been a roller coaster year for employment figures, with record highs and then faster than expected job gains, followed by higher than anticipated unemployment claims. As the economy continues its up and down recovery, this week’s data has created a window to buy for those looking to add gold to their portfolio now.
Recovering from last week’s disappointing data, this week the number of first time unemployment claims being registered is less than expected according to the U.S. Labor Department. The number of weekly jobless claims was still up, with 28,000 new workers claiming unemployment. Nevertheless, the overall figure of 220,000 was fewer than economist predictions of 238,000.
This data put temporary pressure on gold prices, with the precious metal trading at £1,336 ($1,774). With an increase inevitable, buy now.