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Jobs Number: How Will Gold And Silver React?

Commentaries & Views

(Kitco News) - Today is the monthly U.S. jobs number, which always brings volatility and price movement to the metals. What will the news bring today? Based on the patterns we have been watching in gold and silver, we would expect a move to the upside, possibly a big one.

Gold and silver appear to have put in their bottoms, which would indicate a big move would be up. It’s hard to determine how the Street will act to the numbers because there is so much currency and market manipulation going into these numbers.

The metals will most likely move in both directions, as often happens on these economic numbers. We are buyers on a big sell-off, especially if that is the first move at 8:30 a.m. EDT, when the number is announced. Our first target up is $1,330 gold and $16.80 silver.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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