Gold and silver are down like a rock with this morning's NFP release of +216,000, and Unemployment Rate dropping to 8.8%. Gold has sold off from $1435 to the $1420 area, and silver from $37.80 to $37.20. No technical damage has been done at this point, as both remain within their range trades.
It's nice to see that Blythe and co are finally back to their Andrew Maguire described efforts of smashing the metals with the release of the NFP data. Apparently everything is hunkey dorey and back to the good old days in JPMorgueville now that they've made it past the March options expiry.
