Gold And Silver React To September Jobs Report

GOLD

Gold and Silver prices are lower this Thursday, in light of the easing of safe-haven buying as the September jobs report came in strong, and the tapering of safe-haven buying. A stock market rally as Nvidia delivers a strong revenue forecast, soothing fears of an AI bubble, is also putting pressure on Precious Metals today.

At 11am PT today, Gold is trading at $4,062, down $18.

SILVER

Silver has pulled back from its weekly high hit on Wednesday, consolidating as it faces trading pressures from the decrease in safe-haven buying and solid gains in the stock market, as well as the dollar index reaching a new two-week high. This consolidation is healthy for Silver after the volatility the white metal saw last week.

At 11am PT today, Silver is trading at $50.44, down $0.76 for the day.