After reaching an all time high of 1684 gold

After reaching an all time high of 1684 gold has finally began a bit of a retreat. Yesterday we saw some downward action on a slight correction but this morning the driver has been the better than expect good jobs numbers lowering the Unemployment Rate to 9.1%. The new numbers and including the better than expected revisions throws a wrench into the doomsayers perception of things. Honestly I myself was starting to fall under the influence of this negative outlook. Still much more is needed to truly indicate a turnaround. But this is a true glimmer of hope in what has been a very dark cloud this week. The Platinum group metals after taking a hit yesterday, following base metals which drove a downward collapse due to demand concerns, sadly continue this morning. This indicates that overall the attitude has not changed from the investor’s point of view. Euro Zone concerns still remain and Japan intervention was rumored again last night strengthening the US dollar. Let’s hope today’s numbers are the beginning of a string of positive news to come.

	DEC-Z	Sep-U	Oct-V	Sep-U
8/5/2011 10:11	Gold	Silver	Platinum	Palladium
Last	1,661.10	39.10	1,713.30	742.05
Price Change	2.10	(0.83)	(16.10)	(10.90)
Current Low	1,661.20	38.34	1,713.60	742.20
Current High	1,673.00	39.87	1,727.50	754.00
EFP	2.40/2.90	.01/.04	2/6	0/4
London PM Fixes:
AU	1,658.75	PT	1,709.00
PD	742.00
London AM Fixes:
AU	1,665.00	PT	1,700.00
PD	739.00	AG	39.240
	RH	1,925.00	RU	175.00
			IR	1,100.00
EUR	1.4184	1.4232	1.4186
JPY	78.43	79.41	78.45
GBP	1.6318	1.6351	1.6320
Copper	4.20	Crude	85.94

Date	Time	Statistic	For	Actual	Forecast	Expects	Prior	Revised
5-Aug	8:30 AM	Nonfarm Payrolls	Jul	117K	50K	84K	46K	18K
5-Aug	8:30 AM	Nonfarm Private Payrolls	Jul	154K	75K	100K	80K	57K
5-Aug	8:30 AM	Unemployment Rate	Jul	9.10%	9.30%	9.20%	9.20%	-
5-Aug	8:30 AM	Hourly Earnings	Jul	0.40%	0.10%	0.20%	0.00%	-
5-Aug	8:30 AM	Average Workweek	Jul	34.3	34.3	34.3	34.3	-
5-Aug	3:00 PM	Consumer Credit	Jun	-	$5.0B	$5.0B	$5.076B	-