Gold & Silver Rally On Weak July Jobs Report

GOLD

The Labor Department reported this morning that employers added 114,000 jobs in July, missing the 175,000 gain forecast by economists. The unemployment rate also unexpectedly inched higher to 4.3%, against expectations that it would hold steady at 4.1%. This marked the highest level for the jobless rate since October 2021.
Stocks, U.S. Dollar Index, and interest rates dropped on this news, but both Gold and Silver rallied.

At 11am PT today, Gold is trading at $2432 per ounce.

SILVER

Silver initially moved higher on the July weak Jobs report, reaching a high of $29.30 per ounce.

At 11am PT today, Silver is trading at $28.48.