Remember, tomorrow is jobs Friday.....

Having had the day off yesterday, and not getting home to almost midnight, I was not really surprised to see gold up $20, after all, I was away from a computer all day and that's what usually happens. So, you're welcome.

However, I was surprised to see spot off $10 this morning when I got to the office, and was even more shocked to see the dollar ripping yet again on no news. Oh well, that's the way the market works theses days.

Now, imagine my surprise when June gold ripped $12 higher as the dollar reversed course on just the stellar weekly jobs claims which seem to belie all the talk that all is well in the economy.

Anyhoo, tomorrow is the real show as it is jobs Friday and I will be laying my bets on how the day is going to go:

I can imagine walking in with gold up a few dollars and the dollar mildly down. However, after the number is announced, and if (prolly) it's shitty, gold will rip and the dollar will melt. Then, usually no longer than 1/2 hour after the jobs announcement, the dollar will magically find support and start climbing straight up and will not continue to stop. This in turn will cause gold to break and break hard.

This has been the action of gold on jobs Friday when the number has been bad for the last few months. I have no idea what will happen if the number is deemed bullish as I can't remember the last time the number has been good. I guess, this being gold, it would be down hard.