Gold and Silver make moves on Jobs report
Interesting and unusual day. It was reported this morning that in February there were 313,000 new jobs added to the work force. The Dow Jones quickly rallied 300 points (all-time high), the U.S. Dollar rallied and interest rates increased. In the face of that movement, what did Gold/Silver do? Initially, they moved lower with Gold reaching $1,313 and Silver $16.34, then the buyers jumped in, moving the price above yesterday’s closes. At 11am PST today, Gold is up $2, trading at $1,323 per ounce on average Friday volume.
Silver continues to take price direction from Gold, moving lower then turning higher as Gold rallied this morning. Silver is showing more price strength than Gold today. At 11am PST today, Silver is trading at $16.60 per ounce, up $0.10 on good volume.