Equity Markets React Negative To Labor Stats News

GOLD

Today, the Bureau of Labor Statistics' January 2020 jobs report was released. Unemployment was little changed last month, hovering at a 50-year-low of 3.6%, while jobs gained 225,000, 42% more than had been anticipated. The equity markets are reacting negatively to this news and continued concern about the coronavirus, while Gold has moved higher. At 11am PT today, Gold is up $6 per ounce, trading at $1,572 on average volume.

SILVER

Silver initially sold off, reaching a low of $17.60 per ounce before finding investor buying. Silver continues to build a strong base above the key $17.50 level. At 11am PT today, Silver is trading at $17.75 per ounce, down $0.09 on normal volume.