Gold And Silver Moving Higher On A Weak Job Report

GOLD

Gold rallied this morning on the disappointing ADP Employment report. The U.S. private sector added only 146,000 jobs for November, below expectations. Chairman Jerome Powell is currently being interviewed at the Dealbook Summit, but hasn’t said anything to move the market.

At 11am PT today, Gold is trading at $2,650 per ounce, up $4 on average volume.

SILVER

Silver reached a low of $30.46 during Asian trading last night, but turned higher as Gold rallied off its lows. Silver traded above $31 per ounce in Europe and the U.S. for most of the trading sessions.

At 11am PT today, Silver is up $0.20 per ounce, trading at $31.24 on normal volume.