Friday’s NFP data quickly thrust the prospects of Fed tapering back into the grey area of economic certainty as 204,000 people were added to the payrolls in October while the unemployment rate moved to 7.3%

Friday’s NFP data quickly thrust the prospects of Fed tapering back into the grey area of economic certainty as 204,000 people were added to the payrolls in October while the unemployment rate moved to 7.3% and labor force participation remained at levels not seen since the late 1970’s! Gold broke through the $1300 support level and closed Friday’s session at $1284.60 while the DJIA rallied to a new record of 15,761.78. The precious complex continues to point lower to start the week but given that U.S. treasury markets are closed for Veterans Day here in the U.S. and the lack of any exciting corporate or economic news, it could be a rather quiet day. Janet Yellen takes the stage later this week but don’t expect any fireworks over anything she might say during her confirmation hearing, investors are focused on Decembers meeting and for now, it’s still the Ben Bernanke show. Have a great day and to those who have served this great nation in our Armed Forces, a very Happy Veteran’s Day to you and your families!