Gold price seeing some selling pressure as JOLTS reports 11 million job openings in January
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Job openings, a measure of labor demand, jumped to 11.01 million on the last business day of January, the Labor Department said in its monthly Job Openings and Labor Turnover Survey, or JOLTS report, on Wednesday. Last month there were 10.46 million job openings. The data significantly beat expectations as economists were looking for job openings to drop to 10.28 million.
The gold market, unable to break resistance at $1,950 an ounce is seeing some technical selling pressure, with bearish momentum picking up following the latest labor market data. April gold futures last traded at $1,940.70 an ounce, down 0.24% on the day.
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