February's Job Numbers Have Positive Reaction on Metal Markets

GOLD

This morning, the February’s jobs numbers was released, It rose 311,000 jobs, beating expectations, but still a deceleration from an unusually strong January. Gold reacted positively and quickly rallied higher, breaking above the key $1,850 resistance level. Gold reached a high of $1,868 per ounce, before seeing short-term profit taking. At 11am PT today, Gold is trading at $1866.70 per ounce, up $32.70 on excellent volume.

SILVER

Silver rallied with Gold, firmly moving above the key $20 support/resistance level. Silver rallied to a high of $20.90 before seeing selling. At 11am PT today, Silver is trading at $20.53, up $0.39 for the day on good volume.