Gold & Silver Rally On U.S. May Jobs Decline

GOLD

The May U.S. Jobs numbers were released today, a key indicator of the Federal Reserve. The May jobs showed an increase of only 152,000 new jobs, down from Aprils 188,000, and lower than the forecasted 175,000 new jobs. Gold quickly moved back above the $2,350 per ounce support/resistance level.

At 11am PT today, Gold is trading at $2,354 per ounce, up $27 on excellent volume.

SILVER

Silver reached a low of $29.35 per ounce in Asian and European trading this morning. Silver turned on a dime this morning in the U.S. Market after the May jobs numbers were release and is approaching $30.

At 11am PT today, Silver is trading at $29.96 per ounce, up $0.41 on excellent demand.