US Adds More Jobs Than Expected In October

GOLD

The US added 531,000 jobs in October, above the 425,000 number expected. The August and September employment figures were revised higher as well. The U.S. unemployment rate is down to a 2021 low of 4.6%. This news drove down interest rates and helped Gold rally above the key $1,800 per ounce resistance level. At 11am PT today, Gold is trading at $1,817 per ounce, up $20 on excellent volume.

SILVER

Silver rallied back above the $24 resistance level on this inflationary news. Silver reached a high of $24.22 per ounce before seeing some light short-term profit taking. At 11am PT today, Silver is trading up $0.30 per ounce, at $24.20 on strong demand.