The fear of higher interest rates caused by this morning's announcement of 201,000 new American jobs created in the month of August pushed Gold below the $1,200 level. A stronger U.S. Dollar also added additional pressure on Gold, driving the price down to $1,193 before good buying appeared. At 11am PDT today, Gold is trading at $1,195 per ounce, down $4 on normal Friday volume.


Silver tested its $14 per ounce resistance level when the job announcement was released. Silver hit a low of $14.03 before strong buying appeared, rallying the price by a dime. At 11am PDT today, Silver is down $0.05 per ounce trading at $14.15 on average volume.