Gold Price Opens Near $3,900 Following Negative ADP Job Report

The price of gold showed an increased value, opening near $3,900 per ounce today, Thursday, October 2. This uptick follows a less-than-stellar report from the Automated Data Processing (ADP), wherein U.S. private sector job growth was significantly less than predicted.

This trend is a clear example of gold’s typical performance as a safe haven investment. It seems investors are seeking reliable value in the face of unexpected job market instability. The negative ADP jobs report released today indicates a slow down in the U.S. job market, which often hints at a slowing economy.

While this news can be dire for those looking towards the job market, gold investors are likely seeing this as an opportunity. As always, the market is not without risk, and careful analysis is required for investing. Read More