The U.S. Bureau of Labor Statistics recently released weekly data on the condition of the U.S. labor market that showed the unemployment picture is better than expected. This parallels a recent rally in gold prices that has been driven by demand for physical gold. The rally represents a potential structural shift in the gold market, explaining why miners like Goldcorp (NYSE:GG), Barrick Gold (NYSE:GOLD), and Newmont Mining (NYSE:NEM) outperformed the SPDR Gold Trust (NYSEMKT:GLD) for the week after the two-day plunge in gold prices (see chart below) and roughly in line since that same plunge.
In the video below, Fool.com contributor Doug Ehrman discusses the potential impact of the U.S. jobs report on the gold market and what investors can expect from here.
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