Gold & Silver Are Moving Higher On Weak Jobs Report

GOLD

Gold reached a high of $3,460 on June 16 and dropped to $3,272 by July 30th. This $188 correction was caused by strength in many of the U.S. economic indicators and no potential drop in interest rates. Today, we saw a weaker-than-expected number in U.S. Jobs, and Gold rallied over $50 per ounce. Plus, many of Trump’s tariffs start today, which will cause inflation.

At 11 am PT today, Gold is up $50 per ounce, trading at $3,349 on excellent volume.

SILVER

Silver’s correction over the past week has been a larger percentage, but after testing the $36 level, Silver briefly moved back above the key $37 per ounce level.

At 11 am PT today, Silver is up $0.20 per ounce, trading at $36.82 today.