Market Analysts Look Forward To U.S. Jobs Report For Direction

GOLD

A continued short-term rally for the U.S. dollar is keeping pressure on the Gold price today. Gold found solid support at the $1,920 level in Europe and has held above that level most of the trading day. Gold is consolidating between $1.920 to $1,990 area, building a strong base for the next move to $2,000 per ounce. Many financial market analysts are looking forward to tomorrow’s U.S. jobs report for direction. At 11 am PT today, Gold is trading at $1,931 per ounce, down $7 on average volume.

SILVER

Silver broke down below the key $27 per ounce support level and reached a low of $26.40 before finding bargain buying. Silver continues to take direction from the Gold market but has more volatility and wider price ranges. At 11 am PT today, Silver is down $0.60 per ounce, trading at $26.70 on good volume.