Both Gold and Silver pulled back amidst the reactionary trades following the premarket release of the monthly jobs report this past Friday. The jobs report shows payrolls rose 256k in December almost +100K jobs compared to the analyst consensus estimate of 165K. Reports always come with revisions to the past months which took away -8k. The unemployment rate fell to 4.1% from analyst estimate of 4.2%. Wage growth showed a slowing trend on YoY basis slowing to 3.9% from 4%. Ideally, analysts opine that this setups up for a no interest rate change decision heading into the January meeting by the FOMC with the likes of Goolsbee sounding upbeat about a positive jobs number. Jobs report heading into Feb and March are likely to see some significant downward revisions, but in general the the trend suggests the market may not be too far wrong on the potential of an extended pause by the Fed. That potential of course solidifies if MoM inflation number due out later this month comes in flat to higher or around 0.3%.

Setups 

Charts (GCG25) (SIH25)