Gold & Silver Test Support On Strong U.S. Jobs Report

GOLD

The Gold price got off to a hot start on Friday as traders saw the end of the U.S. dock worker strike as a negative. The Gold price reached a low of $2,631 after the September jobs report significantly overshot expectations, showing that the U.S. economy added 254,000 jobs last month against the 150,000 expected and the unemployment rate dipped down to 4.1%. Gold found serious buying at today’s lows and has rallied $15 immediately.
At 11am PT today, Gold is trading at $2,648 per ounce, down $10 on average volume.

SILVER

Silver followed Gold lower on today’s news, reaching $31.46 before finding massive buying. Silver quickly rallied back above the key $32 per ounce level.
At 11am PT today, Silver is up $0.05 per ounce, trading at $32.15 on strong volume.