The video this transcript is based on appeared on January 14.
New York (TheStreet) -- Gold (GLD) is searching for direction in midday trading after touching its highest level in a month. Gold has been on the rise as equities have fallen following Friday's disappointing non-farm payrolls report that showed U.S. employers added jobs at much slower pace than expected in December.
VIDEO TRANSCRIPT:
Gold is searching for direction in midday trading after touching its highest level in a month.
Gold has been on the rise as equities have fallen following Friday's disappointing non-farm payrolls report that showed U.S. employers added jobs at much slower pace than expected in December. The precious metal hit its highest level since December 12 at $1,255 an ounce. At last check, spot gold was slipping 0.2% to $1,251 an ounce while U.S. gold futures for February delivery were gaining 0.2% to $1,253 an ounce.
Meanwhile, Goldcorp (GG) announced that it has begun its formal offer to acquire Osisko Mining for $2.4 billion. The move will give the company control of Osisko's Malartic gold mine in Quebec. At last check, shares of Goldcorp were falling about 2.5% to $22.48.
In New York, I'm Brittany Umar for TheStreet.
Written by Brittany Umar in New York.
Tuesday, January 14, 2014
[video] Gold Hits Highest Level in a Month, Searches for Direction
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