While the gold price remains fairly unchanged for the week, the near two and a half percent liquidation seen in the previous session will be the story as we head into the weekend. The liquidation came after the strongest US jobless claims figure in 15 years was released yesterday which signals that slack in its labour market is waning. This is considered important as earlier this week the US Fed changed its stance on the normalisation of monetary policy, shifting the dependency now almost exclusively on inflation data and the health of the domestic jobs market and removing any language While the current liquidation suggests that gold traders have interpreted both the statement and yesterday’s jobs figure as hawkish on the raising of interest rates, next week’s non-farm payroll report will be crucial for maintaining that theme. - See more at: http://www.bulliondesk.com/gold-news/gold-webcast-gold-price-endures-heavy-sell-off-positive-us-jobs-data-94097/#sthash.8I5wqgyW.dpuf

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