So there was a good jobs report out of the USA this morning, and gold immediately puked.
Which obviously means there's a bunch of HFTs programmed to puke on a good jobs report. We knew that.
Like I keep saying - the USA's economy is carrying the world right now, so any improvement in the US economy should be good for gold and silver if their prices are dependent on industrial production and Asian growth.
Instead gold acts as if a good jobs report means the US stops printing money - which as Gartman notes, it's not doing to begin with - and that therefore gold demand is annihilated because according to goldbugs the only people who buy gold are survivalist wackaloons in Mississippi. Not rich Chinese or Indian peasant farmers.
Meh... we'll see what happens today. Maybe, at the very least, all those miner stocks that popped yesterday and Wednesday will drift back down today? Otherwise, the folks in Bombay can buy gold on special today, just in time for Diwali.