The stock market is moving higher, and metals are trading lower. Gold (December) reached $1216.10 this morning and prices are trading around the $1218 level. Precious metals dipped below significant levels, but we never saw expedited selling. Silver (Currently $14.34), is below the cycle trendline, but nobody’s panicking.
Things could change later, but at the moment gold and silver investors appear to be ok with prices below support. Let’s see if they feel that way after the open.
October ADP came in at 227,000, up slightly from Septembers 218,000. Nonfarm payrolls come out Friday.