This is a quick note regarding today's post-employment numbers - metals rallied, but this move didn't invalidate the technical patterns and as such is not that important. Gold moved only a little above the blue resistance line (we marked it on the short-term gold charts in the recent alerts) and both metals: gold and silver didn't break below their 50-day moving average.

The outlook may change, and we'll let you know if it does, but that is not the case so far. It appears that today's move is a correction / pause, not a game-changer.

Thank you.

Sincerely,
Przemyslaw Radomski, CFA
Founder, Editor-in-chief, Gold & Silver Fund Manager

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