Surprising U.S. Jobs Report Caused Financial Markets To React

GOLD

After the February U.S. Jobs report was released today, showing a surprising surge to 678,000 new jobs, financial markets reacted. 10-Year treasury rates hit a 2022 low (1.70%), the U.S. Dollar reached a 2022 high (98.70) and oil ($112), Gold and Silver quickly moved higher. The Ukraine war is causing increased demand for many popular Gold bullion products as investors look for the best safe haven investment. At 11am PT today, Gold is up $31, trading at $1,968 on strong volume.

SILVER

Silver moved higher with Gold this morning, reaching a high of $25.81 on excellent demand. As Gold moves towards the key $2,000 per ounce level, Silver should easily move above $26. I truly believe that Silver under $30 per ounce is a real bargain considering what is going on in our economy. At 11am PT today, Silver is trading at $25.74 per ounce, up $0.49 on excellent volume.