Thursday saw a rally in themetals; however, both gold and silver made their highs early in the morning andspent the rest of the day selling off. Gold remains weak as it battles at the $1,310level. Silver is still stronger than gold and the trade is long silver, shortgold.
Today is jobs Friday and promisesto move the metals in a big way, with the direction to be determined. Based onpast jobs numbers, we can expect a move in both directions. It would be nosurprise to see gold trade $1,300 and $1,320 today.
The trend in gold is lower, and wewould look to be sellers on a rally to $1,320. Silver would be a buy at $16.20.Expect a big move and volatility in both at 8:30 a.m. EDT when the jobs numberis released -- selling a rally in gold and buying a dip in silver. Remember -- whateverthe number is, after the initial excitement, expect the metals to resume theircurrent trend.
By Todd 'Bubba' HorwitzContributing tokitco.com
Follow @Bubba_TradingBubba@bubbatrading.com www.bubbatrading.com/ 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.