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Gold extends falls to more than $70 after US jobs report beats estimates

Gold has fallen further after the US jobs report beat forecasts and the metal has now dropped to test a prior support level noted here, at $2,314. The actual low set was at $2,314.29. It has bounced off that low now and given that the fall from the highs was now more than $70 perhaps that is not really surprising. It is interesting too; that the 2314 level has managed to stem the fall for the time being. However, it remains to be seen if that will be the case over time. Gold is just now trading at $2,319.70 
 

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