Increase in Labor Markets Cause Gold and Silver Prices to Drop

GOLD

According to the U.S. Department of Labor, January had an increase of 517,000 Nonfarm payrolls and the unemployment rate sits at 3.4%. Gold prices dropped below $1,900 in reaction to the news. Economists hypothesize the Federal Reserve may continue their aggressive policy to battle inflation. At 11am PT today, Gold is trading at $1,866 per ounce, down $47.

SILVER

After January’s job report, Silver prices fell alongside Gold prices past $23.00. At 11am PT today, Silver is trading at $22.47 per ounce, down $1.