Non farm payroll spike

[Topherclaus]

Check out that instant rise after a less than expected NFP.


INSTANT 40c USD rise in silver as I'm writing. $10 gold.


http://mobile.reuters.com/article/idUSKCN1180CU

 

[mmm....shiney!]

Thanks, I was trying to find the reason for it.

 

[Topherclaus]

The data wasn't even THAT bad and yet the market went haywire, especially silver. What a strong rally back over 19! I guess the market didn't price in that information being even slightly crap.

 

[Abossy]

very volatile strong moves up and down. Cautiously optimistic we could see $28 silver by years end. AUD that is.

 

[BuggedOut]

Gold was bouncing off the 100 DMA and PMs were also short-term oversold from the last 2+ weeks.

They were going to be bid up from technical bounce momentum alone and the only thing that would have stopped that would have been a big jobs number IMHO.