The precious complex is in positive territory this morning.

The precious complex is in positive territory this morning. Gold’s rally, earlier in the week, on the back of less-than-inspiring (and delayed) US non-farm payroll data looks to have lost some steam but continues to find support from a softer US dollar. As a refresher, the September NFP data showed just 148,000 jobs added last month while the unemployment rate dropped to 7.2% and labor force participation remained at a dismal 63.2%. Gold is currently up .75% to $1343, down slightly from its high of $1349.30. HSBC’s flash manufacturing PMI for China rose to a seven-month high of 50.9, yet another good sign for the world’s #2 economy. China recently reported that Q3 GDP growth reached 7.8%. Silver is trading modestly higher, now $22.70 after closing the previous session at $22.617. On the PGM side, the Association of Mineworkers and Construction Union is posturing for yet another work stoppage at Amplats as wage negotiations between the two organizations don’t appear to be going as planned. Platinum has moved higher, now trading just shy of $1450 after closing the previous session at $1439.50. Jobless claims fell by 12,000 last week but the data continues to be skewed as California grapples with “technical problems” in its reporting system. New home sales will be released in a few minutes, then market participants can start planning their holiday shopping lists….there’s just 10 weeks left! Have a great day!