Posts From King World News

Improving U.S. jobs market bolsters case for Fed rate hike

U.S. employment rose at a solid clip in July and wages rebounded after a surprise stall in the prior month, signs of an improving economy that could open the door wider to a Federal Reserve interest rate hike in September. Nonfarm payrolls increased 215,000 last month as a pickup in construction and manufacturing jobs offset further declines in the mining sector, the Labor Department said on Friday. “If you thought

Gold edges up, faces longest weekly losing run since 1999

Gold rose on Friday as the dollar softened, but was on track for a seventh straight weekly fall, the longest since 1999, as the market braced for U.S. non-farm payrolls data that could help determine the timing of a Federal Reserve rate hike. “It certainly remains a challenging environment for gold prices to maintain any upward momentum,” Standard Chartered analyst Nicholas Snowdon said. Spot gold was up 0.3 percent at