After initially selling off on larger-than expected November job gains of 203,000, gold and silver rebounded to end down just 0.2% on Friday, reports MarketWatch. It cites one analyst who writes that the rebound “suggests the bears may be getting exhausted after their recent success in pushing prices lower,” and “also suggests the tapering of U.S. monetary policy sooner rather than later is already factored into the market place.”
And expressing skepticism about a Wall Street Journal report suggesting that tapering will begin “either in December or January,” a USA Gold commentator writes: “The way the market has been trading lately, one would think that the heightened taper expectations would be weighing on gold, shares and bonds today. However, that has not been the case….Perhaps the market is skeptical of the taper as well. Or just maybe it’s starting to sink in that a taper of $10-15 billion is simply meaningless in the grand scheme of things.”
CNBC: Jobs growth solid enough for Fed to taper, but not now
Business Insider: Goldman – The Fed is still going to wait until March to taper
GoldSeek: Fed QE volume to triple, not taper
Zero Hedge: Gold gets jobs leak early again?
Got Gold Report: Market strategist: Physical supply of gold has never been tighter
Peak Prosperity: Gold is disappearing from the West
Arabian Money: Is China colluding with top bullion traders to suppress the gold price while buying up global gold reserves?
Silver Investing News: Is Germany jumping on the silver manipulation train?