The increase in new jobs for July was downwardly revised to 159,000 from 164,000 and June’s figure was cut to 178,000 from 193,000. Average hourly earnings was a bright spot, rising by 0.4% in August and 3.2% over the year, beating expectations. The market reacted to the jobs data with a sharp rally in gold and the US dollar weakening against its major counterparts.
MCX Gold Below 38844 Sell More Gold And Relaxxx
MCX Gold settled down 2.33% at 38894 dropped sharply posting their largest one-day dollar loss in almost three years to settle at a two-week low.
BASE METAL TIPS – MCX Zinc Tips – Above 182 Buy 10—20—50 Lots for Target 192—195
The global zinc market swung into a 10,900 tonne surplus in June from an upwardly revised deficit at 38,200 tonnes May, data from the International Lead and Zinc Study Group (ILZSG) showed. During the first half of the year, the global deficit rose to 134,000 tonnes from 103,000 tonnes in the same period last year.
Five-year mutual fund returns fall below PPF’s, but all is not lost
The economic slowdown, which has been gathering pace since the start of 2018, has now come to bite mutual fund returns. Key equity mutual fund categories have delivered lower returns than the Public Provident Fund (PPF), a risk- and tax-free debt instrument, in the last five years, even as more and more people are now investing in mutual funds, enthused by the government’s promise of bold economic reforms.
Global Economic Data to Watch Friday, September 6
In much the same way as the US economy’s Manufacturing PMI, the health and pace of the German industrial sector is also the driving force not only for its domestic economy but really for that of the European Union as a whole.