Gold Rallies On August Jobs Report And Finds Sellers

GOLD

The Labor Department released the August non-farm payroll numbers today. Non-farm payroll grew by 142,000 new jobs in August, lower than the expected increase of 161,000, causing Gold to rally. Gold reached a high of $2,530 per ounce on this job news and saw short-term profit-taking and the price dropped to $2,484 before finding support.
At 11am PT today, Gold is down $18 per ounce, trading at $2,496 on heavy volume.

SILVER

Silver first rallied to $29.19 on the job news, then followed Gold lower reaching $27.63 before finding support.
At 11am PT today, Silver is trading at $27.94 per ounce, down $0.84 on heavy volume.